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A car loan of $20,000 at a nominal rate r=9% compounded monthly for 48 months requires equal payments at the end each month

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A car loan of $20,000 at a nominal rate r=9% compounded monthly for 48 months requires equal payments at the end each month. What will be the monthly payment A=_ ? What will be the interest payment (In), principal payment (Pn) and remaining balance (Bn) for the first payment (month 1) and the second payment (month 2) respectively? End of Month Interest Payment Repayment of Principal In Pn n Remaining Loan Balance B. $20,000 Bi=? B2=? 0 1,=? 1 2 P1=? P2=? 12=?

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