Assume you just bought a new car and now have a car loan to repay. The amount of the principal is $22,000, the loan is at 5.9% APR, and the monthly payments are spread out over 6 years. What is the loan payment? Use a calculator to determine your answer. A.$305.56B.$363.57C.$297.70D.$331.1 4

B. $363.57

Step-by-step explanation:

Monthly Repayment = {PXr(1+r)ⁿ}/{(1+r)ⁿ-1}

Where P=Principal

n= number if repayments in months

r= monthly rate

To determine the monthly rate, Divide the rate by 12

Rate= 5.9%= 0.059

Monthly Interest Rate=0.059/12

= 0.00492

n=6 years X 12 Months

Principal=$22000

Monthly Repayment

= {PXr(1+r)ⁿ}÷ {(1+r)ⁿ-1}

= {22000X(0.059/12)X(1+0.059/12)⁷²} ÷ {(1+0.059/12)⁷²-1}

={108.24(1.00492)⁷²} ÷ {(1.00492)⁷²-1}

=363.5659341655674

Monthly Payment= $363.57

d

step-by-step explanation:

the 2000 florida legislature amended section 322.05, florida statutes, changing the requirements to obtain a class e license for a driver under the age of 18 holding a learner's license. the following requirements must be met in order to obtain a regular class e license if a learner's license is issued on or after october 1, 2000:

must hold a learner's license for at least 12 months or until the 18th birthday.

must have no convictions 12 months from the issue date of the learner's license.

may have one traffic conviction within 12 months from the issue date of the learner's license if adjudication is withheld.

a parent, legal guardian, or responsible adult over 21 years old must certify that the driver has 50 hours driving experience, including 10 hours of night time driving.