(Present value of an annuity) You wish to borrow $18,000 to buy a new automobile. The rate is 8.6% over four years with monthly payments. Find the monthly payment. (Answer: $444.52)
I have tried figuring out this formula for hours and am not having any luck. I have used my book, looked for examples and used my financial equations book. No luck getting this to work out right. Can someone please help?