$2)$ Tasha borrowed $$11,000$ to purchase a new car at an annual interest rate of $6\mathrm{.}7\%.$ She is to pay it back in equal monthly payments over a $4$ year period.a$)$ What is the monthly payment? b$)$ After making $2$ years of payments how much is still left to pay, what is the remaining balance?

Answer rating: 100% (QA)

a To calculate the monthly payment we can use the formula for calculating the fixed monthly payment ... View the full answer