Jamal's monthly payment for the car loan is $578.59.
Data and Calculations:
Amount of Jamal's auto loan = $30,000
Term of the auto loan = 5 years or 60 months
Interest rate payable = 5.9% APR
Monthly payment from an online financial calculator:
Monthly Pay = $578.59
Total Loan Amount = $30,000.00
Upfront Payment = $0.00
Total of 60 Loan Payments = $34,715.41
Total Loan Interest = $4,715.41
Total Cost = $34,715.41
Thus, Jamal will be making a monthly payment of $578.59.
Learn more about calculating monthly payments for auto loans at brainly.com/question/11866605
