Question 1195629
Down payment is $37,800
Amount financed is the difference or $152,200
at 5% the monthly interest is 0.05/12=0.004166667 round at end
P*0.05/12 (1.004166667)^360/(1.004166667)^360 minus 1
=$817.04
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at 6%
P(0.005)(1.005^360)/(1.005^360)- 1
=$912.52