Question 1181527
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You want to buy a $35000 car. The company is offering a 4% interest rate for 36 months (3 years). 
What will your monthly payments be?
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This loan is simply interest of 4%.


It means that in 3 years, you should repay  35000*(1+0.04*3) = 39200  dollars, in all.


To find the monthly payment, divide this toal amount by 36 months


    your monthly payment = {{{39200/36}}} = 1088.89 dollars.    <U>ANSWER</U>
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Solved.