Question 1074662
The price of the car is $21500. Mike makes a down payment of 20%, or $4300; leaving him with a balance of $17200. So, the total loan is worth:
17200 x (1+(4 x 0.068))=17200 x 1.272=21878.4

a.Since his payments are monthly, those amount to $455.80/month

b.21878.4-(20x455.8)=$12762.40 as the remaining balance after 20 months. ☺☺☺☺