Reese Schofield
06/24/2023 · Primary School

\begin{tabular}{l|l|l} Fritz Benjamin buys a car costing \( \$ 24000 \). He agrees to \\ make payments at the end of each monthly period for. 4 \\ years. He pays \( 10.8 \% \) interest, compounded monthly. \\ What is the amount of each payment? Find the total \\ amount of interest Fritz will pay. \end{tabular}

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The monthly payment is approximately $657.60, and the total interest paid is approximately $7564.80.

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