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Can you please explain in full detail? Thank you! Question 10 0 / 1 point Gerritt wants to buy a car that costs $29,750. The

Can you please explain in full detail? Thank you!image text in transcribed

Question 10 0 / 1 point Gerritt wants to buy a car that costs $29,750. The interest rate on his loan is 5.57 percent compounded monthly and the loan is for 6 years. What are his monthly payments? * A) $497.38 OB) $484.78 C) $470.79 OD) $511.38 E) $487.03

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