contestada

Jaclyn has decided to purchase an $11,000 car. She plans on putting $1000

down toward the purchase, and financing the rest at a 4.8% interest rate for 3

years. Find her monthly payment.

O

A. $298.81

B. $204.78

O

O

O

C. $226.54

D. $236.89

Respuesta :

Answer:A

Step-by-step explanation:I just did on apex and got it correct

Parrain

Based on the cost of the car and the interest rate as well as the period, Jaclyn's monthly payment would be A. $298.81.

What would Jaclyn's monthly payment be?

First find the amount she financed:

= Cost of car - down payment

= 11,000 - 1,000

= $10,000

Then find the monthly interest and number of periods:

= 4.8%/12                                                          = 3 years x 12

= 0.4%                                                               = 36 months

Monthly payment would be:

Amount financed = Amount x ( 1 - (1 + rate)^-number of periods) / rate

10,000 = A x ( 1 - (1 + 0.4%)⁻³⁶) / 0.4%

10,000 = A x 33.4658758899

Amount = 10,000 / 33.4658758899

= $298.81

In conclusion, option A is correct.

Find out more on monthly payments at https://brainly.com/question/25658911.

Otras preguntas