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
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
=