The principal of buying a car in America is USD 365,438+0,000, and the annual interest rate is 3.65,438+07%. It will be paid within 60 months. How many months will it take you to pay it back?
If the annual interest rate is 3. 17, it is 12 months. 60 months is five cycles. The total rate is 5X3. 17= 15.85.
The monthly repayment is equal to the principal multiplied by the interest rate and the number of installments.
3 1000 x 1. 1585/60 = 598.6
Pure hands ... hope to adopt