SOLUTION: Max wants a used car. He finds a deal for a Maxima at a total of $4200 if he can put 8.5% down and his equal monthly payments would be complete in one year. Max thinks it over and

Question 928971: Max wants a used car. He finds a deal for a Maxima at a total of $4200 if he can put 8.5% down and his equal monthly payments would be complete in one year. Max thinks it over and pays the down payment. How much are his monthly payments?
Answer by TimothyLamb(4379) (Show Source): You can put this solution on YOUR website!
down:
4200 * 0.085 = 357.00
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monthly payments:
4200 * (1 - 0.085) / 12 = 320.25
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check:
320.25 * 12 + 357.00 = 4200
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