Business Calculus homework help

Posted on 2014-04-03 06:43:00 in Finance by JASMINE

If someone could please explain to me how to solve this, I have no idea what I'm doing and I'm so stress out :(

Nick recently graduated from college and began his first job. As a reward for these recent successes, he plans to purchase his first new car, a Ford Mustang GT. The base list price for a Ford Mustang GT Premium Coupe is $32,845. Since Nick is a first-time buyer, Ford will give him a $500 rebate. Nick will also receive $2,800 for trading in his current car. Ford Credit will finance Nick's purchase for 6.95% annual interest compounded monthly for 72 months. What will Nick's monthly payment be?

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