You are interested in purchasing a new automobile that costs $35,000. The dealership offers you a special financing rate of 6% APR (0.5%) per month for 48 months. Assuming that you do not make a down payment on the auto and you take the dealer's financing deal, then your monthly car payments would be closest to:

Monthly car payments would be closest to $822

Explanation:

Use the following formula to calculate the monthly car payment

PV of Annuity = Annuity Payment x ( 1 - ( 1 + interest rate )^-Numbers of periods ) / Interest rates

Where

Interest rate =  0.5% per month

Numbers of periods =  48 months

PV of Annuity =  $35,000

Annuity Payment = Monthly car payment = ?

Placing values in the formula

$35,000 = Monthly Payment x ( 1 - ( 1 + 0.5% )^-48 ) / 0.5%

$35,000 = Monthly Payment x 42.58031778

Monthly Payment = $35,000 / 42.58031778

Monthly Payment = $821.9760167

Monthly Payment = $821.98 ( Rounded to two decimal number )

Monthly Payment = $822 ( Rounde to dollar value )

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )