Question 1192974
25% of 16000 = 4000.
amount to be financed is 12000.
at 8% compounded monthly:
24 month loan payment is equal to 542.73 payable at the end of each month.
60 month loan payment is equal to 243.32 payable at the end of each month.
the interest charges on the 24 month loan are 24 * 542.73 minus 12000 = 1025.52.
the interest charges on the 60 month loan are 60 * 243.32 minus 12000 = 2599.2.
here's an online calculator that you can use to get these results.
<a href = "https://arachnoid.com/finance/index.html" target="_blank">https://arachnoid.com/finance/index.html</a>
here are the results from using this calculator.
inputs are everything except pmt.
output is pmt.


<img src = "http://theo.x10hosting.com/2022/040701.jpg" >


<img src = "http://theo.x10hosting.com/2022/040702.jpg" >