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23 October, 20:19

John wishes to pay off his car loan of $4,626 in 18 months. How much will his monthly payment be assuming he pays the same amount every month?

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  1. 23 October, 20:20
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    Answer: $257 per month

    Explanation:

    Pay = monthly payment

    Set the total cost equal to number of months times payment per month (which you would leave as a variable because that's what you're solving for).

    4,626 = 18P

    Divide both sides by 18 because you're trying to isolate the P.

    4,626 = 18P - -> 257 = Pr

    This leaves you with an evenly split number of 257.
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