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You are going to buy a Toyota Prius, you know you love them... After being retired from a race car Uber driver, a used Priu
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Answer #1

Amount required = $11,000

Time period = 4*12 = 48 months

Rate of interest per month = 6%/12 = 0.5%

Let the monthly payment be x

X*[{(1+0.5%)48 – 1}/0.5%] = 11,000

X*54.0978 = 11,000

X= $203.34

Hence, monthly payment needed = $203.34

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