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EleoNora [17]
3 years ago
8

Andrea is buying a car for $21,450 she will finance $16,450 of it with a 5 year loan at 2.9% apr what will her monthly auto paym

ent be?
A)$294.85
B)$363.38
C) 477.66
D)$706.32

just took test it is A
Mathematics
1 answer:
Citrus2011 [14]3 years ago
3 0
2.9% apr

5 years to pay

loan= 21450-16450= $5000

apr = .029

.029/12 =.0024

.0024(5000)=12.08

.0024+1=1.0024

1.0024^(5*12)= 1.15

1/1.15= .86

1-.86 = .14

60/ .14= $294.85$

I 





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