What would a monthly payment be on a purchase of an $11,000 car at 7.9% for 3 years? a. $334.39 b. $312.50 c. $344.19 d. -$344.19

Correct  response:

Given:

The purchase price of the car, P = $11,000

The annual interest rate, r = 7.9% = 0.079

Number of years,  = 3 years

Solution:

The periodic interest rate used for the monthly payment calculation is

annual interest rate divided by 12.

Monthly payment formula is given as follows;

Where:

n = 12 × t

Therefore, we have;

n = 12 × 3 = 36

Learn more about loan repayment here:

link

answer: 2 answers

step-by-step explanation: the first one means to spread the product throughout the marketplace such that a large number of people can buy it.  

the second means the process of making a product or service available for the consumer or business user that needs it.

mark this brainliest and i will be glad to .

$450 i think. hope this ☺