Question

You are purchasing a car for $13,420.00 plus 6.13% sales tax. You make a $2,100.00 down payment and have a good credit score. How much interest is due at the end of the first month?

Answer 1

Can anyone help me ??

Answer 2

it depends on the interest rate the bank gives you
in general :
\[I = (\frac{r}{12})*B\]
where r is annual int rate and B is balance of loan

Answer 3

the balance of loan will be
\[B = (13,420*1.0613) - 2,100\]

Answer 4

so the answer is 13,420*1.0613-2,100

Answer 5

no that will be the balance of the loan that you owe...

Answer 6

so whats the answer