You decide to buy a car with a base price of $11,499 at an interest rate of 6.2%. The car will be compounded monthly in those 5 years. What will your monthly payment be? Round the money to the nearest hundredth

A = $15,696.72

Step-by-step explanation:

Use the compound amount formula:  A = P(1 + r/n)^(nt).  Here the number of compounding periods is nt, or (12 per year)(5 years) = 60.

Our formula becomes A = $11,499(1 + 0.062/12)^60, which works out to:

A = $11,499(1 + 0.0052)^60, or

A = $15,696.72

The monthly payment is $15,696.72/60, or $261.61.

49%

step-by-step explanation:

when you realize that you dont know just realize i just took a test and im so smart

example answer: "to determine if a sum is reasonable you can round each number to the nearest whole and compare the estimated sum to the actual sum."

hope this you and anyone else who needs the answer : ^)