Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN: 9780134463216
Author: Robert F. Blitzer
Publisher: PEARSON
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Concept explainers

Unitary Method
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Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…
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Question
100%

Find the monthly payment for the loan.

Used car financing for $600,000 for 25 months at 11.75%.

Please round the answer to the nearest cent.

The monthly payment is $?

Expert Solution
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Step 1

here we have to find the monthly payment for the loan.

PV (present value of car) = $600,000

n(number of period)=25 months

r(rate per period)=0.117512=0.0098

 

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