Easy Quant Question Can't do

CFA Level I
#1

Hey, Sarah Parker is buying a new $25,000 car. Her trade-in is worth $5,000 so she needs to borrow $20,000. The loan will be paid in 48 monthly installments and the annual interest rate on the loan is 7.5%. If the first payment is due at the end of the first month, what is Sarah’s monthly car payment? A) $480.57. B) $416.67. C) $483.58. D) $427.63. Fairly sure the answer is C, but I can’t get it with my calculator - ideas? Thanks

#2

I get C qwith calculator. N=48 I=7,5/12 PV=20000 FV=0 CPT PMT Answer c

#3

Thanks,