ms. ling purchases a new car for $32,000 and finances it with a 6 - year simple interest loan at an annual…

Explanation:

Step1: Calculate the total interest

The simple - interest formula is $I = Prt$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. $P=$32000$, $r = 0.0425$ (since $4.25%=0.0425$), and $t = 6$ years. $I=Prt=32000\times0.0425\times6$ $I = 32000\times0.255=$8160$

Step2: Calculate the total amount to be repaid

The total amount $A$ to be repaid is the sum of the principal $P$ and the interest $I$. $A=P + I=32000+8160=$40160$

Step3: Calculate the monthly payment

The loan is for 6 years, and there are $6\times12 = 72$ months. The monthly payment $M$ is the total amount $A$ divided by the number of months $n$. $M=\frac{A}{n}=\frac{40160}{72}\approx$557.78$

Answer:

$$557.78$