Question: The monthly loan payment P for loan amount A with an annual interest rate r (as a decimal) for t years is Find the monthly

The monthly loan payment P for loan amount A with an annual interest rate r (as a decimal) for t years is

P = A(+2) 12 r 1 - ( 1 + 1/72) -


Find the monthly payment for a $30,000 car loan if it is a 5-year loan with an annual interest rate of 2.6%.

P = A(+2) 12 r 1 - ( 1 + 1/72) - 12t

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