). By subtracting her original $18,000 loan, she realizes she is paying to the bank for the privilege of borrowing the money. ✅ Answer
Over the course of 5 years, she will pay a total of ( calculate car loan
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M=Pr(1+r)n(1+r)n−1cap M equals cap P the fraction with numerator r open paren 1 plus r close paren to the n-th power and denominator open paren 1 plus r close paren to the n-th power minus 1 end-fraction (Principal) (Monthly Interest Rate) (Total number of months) Calculate : Multiply by : Divide by : Final Multiplier : The Result Maya’s monthly payment will be $347.98 .
For an loan at 6% interest over 60 months , Maya's monthly car payment is $347.98 .