Question

you want to purchase a new car in 7 years and expect the car to cost $79,000 your bank offers a plan with a guaranteed APR of 6.5%, if you make regular monthly payments how much should you deposit each month to end up with 79,000 in 7 years​

Answer 1

$1,173.11

Explanation:

Assuming you had $0 down payment, as it's not mentioned in this post, it would cost a total of $98,540.86 over a span of 84 months. The interest would end up being $19,540.86.