Question 1207204
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Answer: <font color=red>$72.14</font>


Work Shown


Monthly payment formula
P = (L*i)/(1 - (1+i)^(-n))
where,
P = monthly payment
L = loan amount
i = interest rate per month
n = number of months


In this case
L = 2500
i = 0.17/12
n = 4*12 = 48


Let's determine the monthly payment
P = (L*i)/(1 - (1+i)^(-n))
P = (2500*0.17/12)/(1 - (1+0.17/12)^(-48))
P = 72.137605768506
P = <font color=red>72.14</font>


You can use an online calculator such as this to confirm.
<a href="https://www.calculatorsoup.com/calculators/financial/loan-calculator.php">https://www.calculatorsoup.com/calculators/financial/loan-calculator.php</a>
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