SOLUTION: a car is $14,000 he pays $3000 down. he finances the rest over 3 years with a 3% interest rate.. what is the monthly payment

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Question 1083787: a car is $14,000 he pays $3000 down. he finances the rest over 3 years with a 3% interest rate.. what is the monthly payment
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
11000=m(1-(1+(.03/12))^-36)/(0.03/12)
multiply through by 0.03/12
27.5=m(0.0860)
m=$319.89