Determine the monthly car payment for a new car costing $19,723, if there is a down payment of $3,000 and the car is financed over a 10-year period at an annual rate of 8% compounded monthly.
A) $182.61
B) $239.29
C) $202.90
D) $217.31

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The Answer of Determine the monthly car payment for a new car costing $19,723, if there is a down payment of $3,000 and the car is financed over a 10-year period at an annual rate of 8% compounded monthly.
A) $182.61
B) $239.29
C) $202.90
D) $217.31

Determine the Monthly Car Payment for a New Car Costing