What will be your monthly payment

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Reference no: EM131898074

You want to purchase a used car that will cost you $8,200 beyond the cash you have on hand. You can get a loan from your local bank with an nominal annual interest rate of 2.54% with total of 36 monthly payments. What will be your monthly payment (in $)? Note: the nominal annual interest rate is not the same as the monthly interest rate.

Reference no: EM131898074

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What will be your monthly payment : You want to purchase a used car that will cost you $8,200 beyond the cash you have on hand. What will be your monthly payment (in $)?

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