Question

Use your financial calculator to compute the monthly payments for a vehicle that costs ​$13 comma 900 if you financed the entire purchase over four years at an annual interest rate of 6.25 percent. Also calculate the loan payments assuming rates of 5.25 percent and 7.25 percent. Compare the total amount spent on the vehicle under each assumption.  

The monthly payments for a vehicle that costs ​$13 comma 900 if you financed the entire purchase over four years at an annual interest rate of 6.25 percent is ​$________ . ​(Round to the nearest​ cent.)

*There might be follow up questiosn

Answer 1