Adan has decided to purchase an $9000 car. he plans on putting 20% down toward the purchase and financing the rest at 7.9% interest rate for 3 years. find his monthly payment a) $225.29 b) $298.81 c) $204.78 d) $236.89

a) $225.29

Step-by-step explanation:

We are given

Adan has decided to purchase an $9000 car

he plans on putting 20% down toward the purchase

so,

loan amount =  80% of 9000

financing the rest at 7.9% interest rate for 3 years

so,

r=7.9%=0.079

now, we can find i

i=0.00658

t=3

we can use formula

now, we can plug values

now, we can simplify it

So,

His monthly payment is $225.2765

no

step-by-step explanation:

correct answer is c. just did it

step-by-step explanation: