Homework Help: Math

Posted by Reggie on Friday, December 14, 2012 at 3:54pm.

Find the amount of interest and the monthly payment for the loan. Purchase a car for $42,400 at 2.4% add-on rate for 5 years. (Round your answers to the nearest cent.)
$_____ interest
$_____ per month

Math - khan, Friday, December 14, 2012 at 4:07pm
PV (Present Valve)=42400
Interest(i)= 2.4%
Number of years (n)=5
FV (Future value)=?

FV=PV*(1+i) power n
FV=42400 * (1+2.4) power 5
=

Answer this Question

Related Questions

College Math - Find the amount of interest and the monthly payment for the loan...
math - Find the amount of interest and the monthly payment for the loan. ...
algebra/math - Find the amount of interest and the monthly payment for the loan...
math - Find the amount of interest and the monthly payment for the loan. ...
ALGEBRA - Find the amount of interest and the monthly payment for the loan. ...
ALGEBRA - Find the amount of interest and the monthly payment for the loan. ...
ALGEBRA - Find the amount of interest and the monthly payment for the loan. ...
ALGEBRA - Find the amount of interest and the monthly payment for the loan. ...
ALGEBRA - Find the amount of interest and the monthly payment for the loan. ...
Math - Find the amount of interest and the monthly payment for the loan. ...

For Further Reading

First Name:
School Subject:
Answer: