Nobu has just made the last payment on his car. the lifetime of the loan was 48 months. the bank financed him for $18,000 at 6.76%. how much did nobu actually pay, after he has made the last payment, for his car? a. $18,000 c. $20,593.44 b. $19,205.33 d. $21,233.12

$20,593.44

Step-by-step explanation:

The lifetime of the loan was 48 months. The bank financed him for $18,000 at 6.76%.

We can find the monthly payments (d) using PV formula as follows:-

So, monthly payments (d) = $429.03

Therefore, Total Repaid amount = d x 48 = 429.03 x 48 = $20,593.44

Hence, Nobu paid 20,593.44 dollars as loan repayment.

c

step-by-step explanation:

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