18 Amy borrowed $23,950 to buy a new car. The stated interest rate is 4.8 percent per year, but she is required to make monthly payments for five

18

Amy borrowed $23,950 to buy a new car. The stated interest rate is 4.8 percent per year, but she is required to make monthly payments for five years. What is her monthly payment on the loan?

Select one:

a. $435.63

b. $449.77

c. $458.44

d. $474.28