Question

A used car costs $6,472. A down payment of $1,000 is required. The remaining balance is to be paid in 36 equal monthly payments. What would be the monthly payment?
$179.78

$207.56

$152

$148

Answer 1

The answer should be $152.

$6,472 - $1,000 = $5,472
Divide $5,472 by 36 and you end up with $152.