SOLUTION: If i purchase a car for 22395.00 interest rate is 4.09% what is the amount of payments for 48 months using this formular. A=p(1+r/n)nt A=loan amount P=price N=number of months R=in

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Question 872948: If i purchase a car for 22395.00 interest rate is 4.09% what is the amount of payments for 48 months using this formular. A=p(1+r/n)nt A=loan amount P=price N=number of months R=interest rate

Found 2 solutions by CubeyThePenguin, ikleyn:
Answer by CubeyThePenguin(3113)   (Show Source):
You can put this solution on YOUR website!
P = $22395
R = 4.09%
n = 48

A = P(1 + r/n)^(nt)
= (22395)(1 + 4.09/48)^(48)
= $26368.22

Answer by ikleyn(52786)   (Show Source):
You can put this solution on YOUR website!
.

            If you will read the formulas in the post by @Penguin, it may happen that you will need an urgent medical help ---
            so incorrectly and carelessly they are presented.

            Therefore, to avoid such a sad final, I post here my correct solution, which you may read safely.

P = $22395 R = 4.09% n = 12 months t = 4 years A = = = $26368.22

Solved (in a correct and safe way).