2. You purchase a car with a cash value of $18,000 and make a down payment...

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2. You purchase a car with a cash value of $18,000 and make a down payment of $2,500. What payment is required at the end of each month for 5 years to repay the loan on the car if interest is 6.2% compounded monthly? (2 marks) 2. You purchase a car with a cash value of $18,000 and make a down payment of $2,500. What payment is required at the end of each month for 5 years to repay the loan on the car if interest is 6.2% compounded monthly? (2 marks)