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Ankur want to buy to use Land Rover for $ 3 8 , 9 0 0 . His bank requires a 1 0 % down

Ankur want to buy to use Land Rover for $38,900. His bank requires a 10% down payment is charging 7.2%
interest for a 5-year loan compounded monthly.
a. How much is the down payment?
7.2% of 38,900
0.07238,900=$2,800.80
b. How much is the amount of the loan?
38,900-2,800.50$35,199.20
c. Find the monthly payment for the loan.
]=35,199.20(0.042)[$70
d. If Ankur makes all the payments, what is the total interest paid on the loan?
700.31(12)(5)=$42,018.60
e. What is the total amount paid for the car? (All payments plus down payment)
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