Homework Question Help Needed

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The Shelby Cobra retails for $32,523 (All taxes included). What are the monthly loan payments for the car if you make a down payment of $4,663, the term is 4 years and the APR is 14% (Car loans payments are made at the end of each month) What is the amount of the monthly payment? (Type to the nearest cent)

Jun 25th, 2015

Thank you for the opportunity to help you with your question!

Cost = 32523 downpayment = 4663 hence loan amount = 32523-4663 = 27860

Monthly installment = $761.32  (Answer)

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Jun 25th, 2015

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