document.write( "Question 1138518: what is the monthly payment on a 5 year car loan for 14000 at an annual interest rate of 12% \n" ); document.write( "
Algebra.Com's Answer #756338 by Theo(13342)\"\" \"About 
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if the car costs 14,000 and is paid off monthly at an annual rate of 12% compounded monthly, for a period of 5 years, the payment made at the end of each month is equal to $311.42.\r
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\n" ); document.write( "\n" ); document.write( "the financial calculator used for this analysis can be found at https://arachnoid.com/finance/\r
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\n" ); document.write( "\n" ); document.write( "the inputs to this calculator were:\r
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\n" ); document.write( "\n" ); document.write( "prevent value = 14000
\n" ); document.write( "future value = 0
\n" ); document.write( "number of monthly time periods = 5 * 12 = 60
\n" ); document.write( "percent interest rate per monthly time period = 12% / 12 = 1%
\n" ); document.write( "payments are made at the end of each monthly time period.\r
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\n" ); document.write( "\n" ); document.write( "click on PMT and the calculator tells you that the monthly payments are $311.42, shown as negative because the money is going out.\r
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