Mr. Sir buys a car for $32,000. He gets a 0% interest loan because his credit score is good. He pays $4000 for his down payment. If he pays it off in 4 years, how much will each of his monthly payments be to the bank?
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the left over balance after down the payment is 32000-4000=28000
the monthly payment is
28000/(4*12) = 583.33
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