Consider the monthly payment for the following loan new car

Last updated: 10/15/2023

Consider the monthly payment for the following loan new car financing of 3 3 on a 30 month 12 550 loan Identify the following for the given loan where P is the amount of the loan in dollars r is the annual interest rate as a decimal n is the number of payments p year and it is the time in years P r n t Find the monthly payment for the loan Round your answer to the nearest cent