Mathematics

Paloma Fowler

12 January, 06:43

Renee is going to buy a new car that has a list price of $19,675. She will be responsible for $1,420 in vehicle registration fees, $85 in documentation fees, and 8.92% sales tax. She plans to trade in her current car, a 2002 Buick LeSabre in good condition, and finance the rest of the cost over four years at an interest rate of 11.34%, compounded monthly. If the dealer gives Renee 85% of the listed trade-in value for her car, what will her monthly payment be? Round all dollar values to the nearest cent.