3. algebra marcy wolfe needs an installment loan of $18,500 to purchase a new automobile. the anual percentage rate is 9%. she has to repay the loan in 48 months. whats the monthly payment? find the total amount repaid. find the finance charge.

The answer is 420.10

Step-by-step explanation:

From the Given Question, let us recall our values.

Marcy Wolfe needs an installment loan of =18,500 for the purchase of a new automobile.

The annual percentage rate = 9%

A repayment loan to be maid in = 48 months.

Now, let find the total amount repaid,

Thus,

The first step is to  add the installment loan with the percentage rate

which is,

18500+9%=20,165

Then we divide the current amount by 48 months,

20165/48 = 420.10

x = -2

y = 848

step-by-step explanation:

plug in the numbers