Roslyn has decided to purchase a $14,000 car. she plans on putting $2000 down toward the purchase, and financing the rest at a 6% interest rate for 4 years. find her monthly payment

using the payment function, a $12,000 loan for 4 years at a rate of 6%, your payment would be $281.82

And the monthly payment for this case would be $281.82

Option D.

Explanation:

For this case the total for the car is $14000 and she gives a downpayment of $2000 so then we have remaining $14000-2000 = $12000 that needs to be financed.

For this case we have that the and the total time is given by t=4 years.

We want to calculate the monthly payment and we can use the following formula:

For this case our value for r is given by since we need the rate monthly

in the 4 years

And if we replace we got:

And the monthly payment for this case would be $281.82

Option D.