2 years ago

A.SSE.A Carlos borrowed $26,000 for a car for 5 years at an APR of 5.25%. What will his monthly payment be? *

Mathematics

1 answer:

stiv31 [10]2 years ago

4 0

Answer:

$568.75

Step-by-step explanation:

Monthly payment = annual payment / 12

Annual payment = amount borrowed x time x APR

$26,000 X 0.0525 X 5 = $6825

Monthly payment = $6825 / 12 = $568.75

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