The monthly payment for the new car is; Choice A; $279. 03
<h3>Percentages</h3>
After the down payment of 30% and financing the 8% TT&L is made; it follows that;
The rest of the payment is;
Hence, $8,897 is the payment made over the course of the duration at a finance rate of 3.16%.
Ultimately, the monthly payment is; $8,897 × 0.0316 = $279.03
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