You buy a car for $38,000. You agree to a 60-month loan with a monthly interest rate of 0.55 percent. What is your required monthly payment?

The monthly payment needed to be made every month is $745.36.

Step-by-step explanation:

The formula to compute the loan payment is:

Here,

P = Loan payment

PV = Present value

r = interest rate

n = number of periods.

Given:

PV = $38,000, r = 0.55% and n = 60

The monthly loan payment is:

Thus, the monthly payment needed to be made every month is $745.36.

a 4/6 = 9/12   not proportional

step-by-step explanation:

to find which are not proportional, we can use cross products

if it is true, they are proportional.   if it is not true, they are not proportional.

a 4/6 = 9/12

4* 12 = 6*9

48 = 54

not this is not proportional  

b 2/3 = 12/18  

2* 18 = 3 * 12

36 = 36

this is proportional

c 5/4 = 10/8  

5*8 = 4*10

40 = 40

this is proportional

d 7/5 = 35/25

7*25 = 5 * 35

175 = 175

is proportional