Question : Question 3 (1 point) A commercial bank will loan you : 4477
Question 3 (1 point) A commercial bank will loan you $49,514 for 5 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 17.41 percent of the pnpaid balance. What is the amount of the monthly payments? Round the answer to two declmal places.