To buy a car, you borrow $35,000 with a term of five years at an APR of 4.5%. What is your monthly payment?

To calculate your monthly payment for the car loan, we can use the formula for the monthly payment of a loan, which is based on the **amortization formula**:

\[
M = \frac{P \cdot r \cdot (1 + r)^n}{(1 + r)^n - 1}
\]

Where:
- $M$ is the monthly payment,
- $P$ is the loan amount (principal),
- $r$ is the monthly interest rate (annual rate divided by 12),
- $n$ is the total number of payments (number of months).

Let's plug in the values:
- $P = 35,000$,
- The annual interest rate is 4.5%, so the monthly interest rate $r = \frac{4.5\%}{12} = \frac{0.045}{12}$,
- The term is 5 years, so $n = 5 \times 12 = 60$ months.

Now we can calculate the monthly payment.The monthly payment for the car loan would be approximately **$652.51**.

Would you like more details on this calculation or have any questions?

Here are 5 related questions:
1. How much total interest will you pay over the life of the loan?
2. What would happen to the monthly payment if the interest rate were lower, say 3%?
3. How much would you pay if you extended the loan term to 

Calculate the monthly payment for a $35,000 car loan with an APR of 4.5% over a 5-year term. This problem uses the amortization formula and explores key concepts like interest rates and loan payments. Perfect for high school students studying algebra and finance.

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