You borrow $7083 to buy a car. This is a 38-month loan with an annual rate...

You borrow $7083 to buy a car. This is a 38-month loan with an annual rate of 4.04%. What is your required monthly payment? Round to the nearest $0.01 (e.g., if your answer is $385.4789, record it as 385.48).

Do this on excel and explain how to do it please.

Expert Solution

jeff jeffy answered 1 year ago

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