Cassandra purchased a new car. The car had a list price of $16,870. Cassandra made a down payment of $1,800 and financed

the rest, paying 12.3% interest compounded monthly over a payment period of four years. If Cassandra also had to pay 7.8%

sales tax, a $895 vehicle registration fee, and a $68 documentation fee, what is her monthly payment?

Question

Keira Wilcox

Mathematics

7 September, 13:40

Cassandra purchased a new car. The car had a list price of $16,870. Cassandra made a down payment of $1,800 and financed

the rest, paying 12.3% interest compounded monthly over a payment period of four years. If Cassandra also had to pay 7.8%

sales tax, a $895 vehicle registration fee, and a $68 documentation fee, what is her monthly payment?

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Answers (1)

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Martha Walls · Answer 1

Answer: $459.42

After adding fees and taxes you will be left with a cost of $19,148.86. after that you will need to take out her down payment. Then you can use a loan interest calculator and input your information. after you input all your information you will find that the answer is $459.42