Register

Mike purchases a $22,000 car and plans to pay back the loan by making monthly payments over the course of 5 years. The interest rate is 3%. Compute Mike’s monthly payments using…

Mike purchases a $22,000 car and plans to pay back the loan by making monthly payments over the course of 5 years. The interest rate is 3%. Compute Mike’s monthly payments using…
asked 23.9k views
3 votes
Mike purchases a $22,000 car and plans to pay back the loan by making monthly payments over the course of 5 years. The interest rate is 3%. Compute Mike’s monthly payments using the amortization formula.

$383.09
$395.32
$427.91
$442.63

asked
User Ash Belmokadem
by
7.7k points

1 Answer

5 votes
Answer:
the second one
$395.32
Mike purchases a $22,000 car and plans to pay back the loan by making monthly payments-example-1
answered
User Dafi
by
7.6k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!