I borrow 12000 for a new car and will pay money back in equal paymest at 16.5% compouned montly for 4 years.?

Question

what is the monthly payment

Answer 1

Do not even consider doing this, you will pay about 100 000 paying off the stupid thing, is this a bank loan or a credit card?

Answer 2

291.25

Answer 3

Don't do it, the payment will be huge. Besides, the economy is crashing; used cars will soon be cheap as dirt, so this is a terrible time to even think of buying a new one.

Get a junker for $500 until things sort themselves out.

Answer 4

If you sign a contract for 16.5% then you are truely crazy.

I'm not trying to be mean but d**n.

Answer 5

Holy c**p!  You're getting raped on the interest rate... wow, you must have bad credit.

$343.16