Follow the steps above and find c, the total of the payments, and the monthly payment. Choose the right answers.

Jane Smart buys a new SUV. The price, including tax, is $22,500.00. She finances the vehicle over 60 months after making a $2,000 down payment. The true annual interest rate is 12%. What are Jane's monthly payments (principal plus interest)?

To the nearest penny, c = $.
Total of payments = amount financed + c = $.
Total of payments ÷ number of payments = monthly payment = $.

Question

Follow the steps above and find c, the total of the payments, and the monthly payment. Choose the right answers.

Jane Smart buys a new SUV. The price, including tax, is $22,500.00. She finances the vehicle over 60 months after making a $2,000 down payment. The true annual interest rate is 12%. What are Jane's monthly payments (principal plus interest)?

To the nearest penny, c = $.
Total of payments = amount financed + c = $.
Total of payments ÷ number of payments = monthly payment = $.

tigerlover · Answer

Without the interest rates it's $341.67