Calculate the monthly payment for a 5-year car loan of $23,570 at 10.43% interest, compounded monthly. a. $247.44 b. $337.56 c. $433.88 d. $505.79 select the best answer from the choices provided a b c d

The correct answer is option D

Step-by-step explanation:

The total amount to be paid when interest is compounded monthly

The amount to be paid per month

The nearest answer to this value is option D

step-by-step explanation:

we are given

since, we have to isolate x on anyone side

so, we can move all x terms on one side

subtract both sides by 2x

add both sides by 9

divide both sides by 4

we get