You want to buy a new sports car for $50,000. The contract is in the form...

70.2K

Verified Solution

Question

Finance

You want to buy a new sports car for $50,000. The contract is inthe form of a 60-month annuity due at a 7.2 APR. What will yourmonthly payment be? Answer =. $988.85 but I keep getting $994.78how do I get 988.85

Answer & Explanation Solved by verified expert
3.6 Ratings (662 Votes)
IT IS A CASE OF    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

You want to buy a new sports car for $50,000. The contract is inthe form of a 60-month annuity due at a 7.2 APR. What will yourmonthly payment be? Answer =. $988.85 but I keep getting $994.78how do I get 988.85

Other questions asked by students