Respuesta :

haseebkhuhro256

Answer:

R=154.66941

Explanation:

the payment will be made monthly so we need to convert the 5.99% APR in to moths

Monthly Interest =5.99%/12 = 0.499%

Total payments = 60

Amount Borrowed = $8000

Rental = ?

Using the annuity formula = P=R*(1-(1+i )^-n ) / i

So we have = 8000=R*(1-(1+0.499%)^-60) / 0.499%

8000=R* (1-0.74181) / 0.499%

8000=R* 0.25818/ 0.499%

8000=R*51.72321

R=8000/51.72321

R=154.66941

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