Arancher purchased an suv for $33,714 and made a down payment of 15% of the cost. the balance was financed for 4 years at an annual interest rate of 7%. find the monthly truck payment.

Formula for monthly payment is:

A = P x (r(1+r)^t)/((1+r)^t-1) where P is the amount financed, r is the interest rate divided by 12 and t is the amount of time for the loan in months.

P = 33714 x 0.85 = 28656.90

A = 28656.90 x (0.07/12 (1+0.07/12)^48) / (1 +0.07/12)^48 - 1)

A = $686.23

ipuy6tygy

step-by-step explanation:

the expression (1.26)2t reveals the approximate rate of increases in the number of plants semiannually.

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