+191 Hello, here's the problme + the solution I think I made it right
1. Megan takes out a car loan for $13.000. She intends to make a montly payments for 5 years to pay off her loan. If the bank charges her annual interst rate of 4.2% computed montly on the loan balance, how much will her montly payment be ?
I found : $240,5898911
L = 13000
R: 0,042
T = 5
M = 12
Because : P = L ( R/M / 1 - ( 1+ R/m ) (-^mt )
Let me know guys , of what you think is the right solution or if I made any mistakes ?
Best,
Thank you !
