Business, 17.06.2020 01:57 aaliyahettorre

The new car you just purchased cost $25,499. You have saved $3,240 for the down payment (made at the time of purchase) and will finance the rest through a fully amortized installment loan from the car dealer. This loan has an interest rate of 5.25% compounded monthly and required an equal monthly payment for the next 72 months. Which of the following best represents the payment on interest (145)and principal (P45) associated with the 45th monthly payment? 1(45) = $1.02, P(45) = $360.05
1(45) = $0.03, P(45) = $361.04
I(45) = $274.89, P(45) = $86.17
|(45) = $41.54, P(45) = $319.52

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The new car you just purchased cost $25,499. You have saved $3,240 for the down payment (made at the...

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