Solved

Determine the Monthly Car Payment for a New Car Costing

Question 23

Multiple Choice

Determine the monthly car payment for a new car costing $18,228,if there is a down payment of $6,000 and the car is financed over a 6-year period at an annual rate of 9% compounded monthly.


A) $328.57
B) $220.42
C) $231.50
D) $198.37

Correct Answer:

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