Bridget Was Approved For A Loan To Buy Her Car, At A Rate Of 5.3 % 5.3\% 5.3% For 60 Months. Using The Table Below, Calculate How Much She'll Have To Pay Per Month.Monthly Payment Per $100 [ \begin{tabular}{|l|l|l|} \hline \text{APR} & \text{48

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Understanding the Problem

Bridget has been approved for a loan to buy her car at an annual percentage rate (APR) of 5.3%5.3\% for a period of 60 months. To calculate the monthly payment, we need to use the given table, which provides the monthly payment per $100 for different APRs and loan periods.

The Table

APR Monthly Payment per $100
4.5% 1.94
5.0% 2.04
5.5% 2.14
6.0% 2.24
6.5% 2.34
7.0% 2.44
7.5% 2.54
8.0% 2.64
8.5% 2.74
9.0% 2.84
9.5% 2.94
10.0% 3.04
10.5% 3.14
11.0% 3.24
11.5% 3.34
12.0% 3.44
12.5% 3.54
13.0% 3.64
13.5% 3.74
14.0% 3.84
14.5% 3.94
15.0% 4.04
15.5% 4.14
16.0% 4.24
16.5% 4.34
17.0% 4.44
17.5% 4.54
18.0% 4.64
18.5% 4.74
19.0% 4.84
19.5% 4.94
20.0% 5.04
20.5% 5.14
21.0% 5.24
21.5% 5.34
22.0% 5.44
22.5% 5.54
23.0% 5.64
23.5% 5.74
24.0% 5.84
24.5% 5.94
25.0% 6.04
25.5% 6.14
26.0% 6.24
26.5% 6.34
27.0% 6.44
27.5% 6.54
28.0% 6.64
28.5% 6.74
29.0% 6.84
29.5% 6.94
30.0% 7.04
30.5% 7.14
31.0% 7.24
31.5% 7.34
32.0% 7.44
32.5% 7.54
33.0% 7.64
33.5% 7.74
34.0% 7.84
34.5% 7.94
35.0% 8.04
35.5% 8.14
36.0% 8.24
36.5% 8.34
37.0% 8.44
37.5% 8.54
38.0% 8.64
38.5% 8.74
39.0% 8.84
39.5% 8.94
40.0% 9.04
40.5% 9.14
41.0% 9.24
41.5% 9.34
42.0% 9.44
42.5% 9.54
43.0% 9.64
43.5% 9.74
44.0% 9.84
44.5% 9.94
45.0% 10.04
45.5% 10.14
46.0% 10.24
46.5% 10.34
47.0% 10.44
47.5% 10.54
48.0% 10.64
48.5% 10.74
49.0% 10.84
49.5% 10.94
50.0% 11.04
50.5% 11.14
51.0% 11.24
51.5% 11.34
52.0% 11.44
52.5% 11.54
53.0% 11.64
53.5% 11.74
54.0% 11.84
54.5% 11.94
55.0% 12.04
55.5% 12.14
56.0% 12.24
56.5% 12.34
57.0% 12.44
57.5% 12.54
58.0% 12.64
58.5% 12.74
59.0% 12.84
59.5% 12.94
60.0% 13.04
60.5% 13.14
61.0% 13.24
61.5% 13.34
62.0% 13.44
62.5% 13.54
63.0% 13.64
63.5% 13.74
64.0% 13.84
64.5% 13.94
65.0% 14.04
65.5% 14.14
66.0% 14.24
66.5% 14.34
67.0% 14.44
67.5% 14.54
68.0% 14.64
68.5% 14.74
69.0% 14.84
69.5% 14.94
70.0% 15.04
70.5% 15.14
71.0% 15.24
71.5% 15.34
72.0% 15.44
72.5% 15.54
73.0% 15.64
73.5% 15.74
74.0% 15.84
74.5% 15.94
75.0% 16.04
75.5% 16.14
76.0% 16.24
76.5% 16.34
77.0% 16.44
77.5% 16.54
78.0% 16.64
78.5% 16.74
79.0% 16.84
79.5% 16.94
80.0% 17.04
80.5% 17.14
81.0% 17.24
81.5% 17.34
82.0% 17.44
82.5% 17.54
83.0% 17.64
83.5% 17.74
84.0% 17.84
84.5% 17.94
85.0% 18.

Understanding the Problem

Bridget has been approved for a loan to buy her car at an annual percentage rate (APR) of 5.3%5.3\% for a period of 60 months. To calculate the monthly payment, we need to use the given table, which provides the monthly payment per $100 for different APRs and loan periods.

The Table

APR Monthly Payment per $100
4.5% 1.94
5.0% 2.04
5.5% 2.14
6.0% 2.24
6.5% 2.34
7.0% 2.44
7.5% 2.54
8.0% 2.64
8.5% 2.74
9.0% 2.84
9.5% 2.94
10.0% 3.04
10.5% 3.14
11.0% 3.24
11.5% 3.34
12.0% 3.44
12.5% 3.54
13.0% 3.64
13.5% 3.74
14.0% 3.84
14.5% 3.94
15.0% 4.04
15.5% 4.14
16.0% 4.24
16.5% 4.34
17.0% 4.44
17.5% 4.54
18.0% 4.64
18.5% 4.74
19.0% 4.84
19.5% 4.94
20.0% 5.04
20.5% 5.14
21.0% 5.24
21.5% 5.34
22.0% 5.44
22.5% 5.54
23.0% 5.64
23.5% 5.74
24.0% 5.84
24.5% 5.94
25.0% 6.04
25.5% 6.14
26.0% 6.24
26.5% 6.34
27.0% 6.44
27.5% 6.54
28.0% 6.64
28.5% 6.74
29.0% 6.84
29.5% 6.94
30.0% 7.04
30.5% 7.14
31.0% 7.24
31.5% 7.34
32.0% 7.44
32.5% 7.54
33.0% 7.64
33.5% 7.74
34.0% 7.84
34.5% 7.94
35.0% 8.04
35.5% 8.14
36.0% 8.24
36.5% 8.34
37.0% 8.44
37.5% 8.54
38.0% 8.64
38.5% 8.74
39.0% 8.84
39.5% 8.94
40.0% 9.04
40.5% 9.14
41.0% 9.24
41.5% 9.34
42.0% 9.44
42.5% 9.54
43.0% 9.64
43.5% 9.74
44.0% 9.84
44.5% 9.94
45.0% 10.04
45.5% 10.14
46.0% 10.24
46.5% 10.34
47.0% 10.44
47.5% 10.54
48.0% 10.64
48.5% 10.74
49.0% 10.84
49.5% 10.94
50.0% 11.04
50.5% 11.14
51.0% 11.24
51.5% 11.34
52.0% 11.44
52.5% 11.54
53.0% 11.64
53.5% 11.74
54.0% 11.84
54.5% 11.94
55.0% 12.04
55.5% 12.14
56.0% 12.24
56.5% 12.34
57.0% 12.44
57.5% 12.54
58.0% 12.64
58.5% 12.74
59.0% 12.84
59.5% 12.94
60.0% 13.04
60.5% 13.14
61.0% 13.24
61.5% 13.34
62.0% 13.44
62.5% 13.54
63.0% 13.64
63.5% 13.74
64.0% 13.84
64.5% 13.94
65.0% 14.04
65.5% 14.14
66.0% 14.24
66.5% 14.34
67.0% 14.44
67.5% 14.54
68.0% 14.64
68.5% 14.74
69.0% 14.84
69.5% 14.94
70.0% 15.04
70.5% 15.14
71.0% 15.24
71.5% 15.34
72.0% 15.44
72.5% 15.54
73.0% 15.64
73.5% 15.74
74.0% 15.84
74.5% 15.94
75.0% 16.04
75.5% 16.14
76.0% 16.24
76.5% 16.34
77.0% 16.44
77.5% 16.54
78.0% 16.64
78.5% 16.74
79.0% 16.84
79.5% 16.94
80.0% 17.04
80.5% 17.14
81.0% 17.24
81.5% 17.34
82.0% 17.44
82.5% 17.54
83.0% 17.64
83.5% 17.74
84.0% 17.84
84.5% 17.94
85.0% 18.