Let's pretend that we have a car loan for $25,000 at an interest rate 2.24% APR compounded monthly and this loan is a (modernly) typical seven-year loan.

Use a Sheets or Excel document. Screenshot the appropriate support into this document and answer the questions in this document. OR use your algebra muscles as support if you would rather. Either way you must turn in ONE document with answers with support.

A regular loan

1. What is the monthly payment to this loan situation? (we are not skipping payments yet). We are looking for an accurate answer here, exactly equal to the answer that I have. ex: $123 (no need to guess parts of a dollar (dimes and pennies) but you are welcome to)