You have just purchased a car on credit for $3,000 with no money down. The dealership has asked you to pay for the car by making 20 equal monthly payments of blended principal and interest beginning 1 month from now. The stated rate on the loan is 12% APR. How much is each payment?

Select one:

a. None of the above

b. $125.84

c. $166.25

d. $212.87

e. $37.53

You have just purchased a car on credit for $3,000 with no money down. The dealership has asked you to pay for the car by making 20 equal monthly payments of blended principal and interest beginning 1 month from now. The stated rate on the loan is 12% APR. How much is each payment? Select one: O a. None of the above O. b. $125.84 O c. $166.25 O d. $212.87 O e. $37.53 Show all SRAM 12/20/2020 Age ENG 0 N E earch