Lisa wants to buy a car that is available at two dealerships. The price of the car is the same at both dealerships. Williams Motors would let her make quarterly payments of $7,100.00 for 2 years at a quarterly interest rate of 4.01 percent. Her first payment to Williams Motors would be due immediately. If Dolan Cars would let her make equal monthly payments of $4,200.00 at a monthly interest rate of 1.61 percent and if her first payment to Dolan Cars would be in 1 month, then how many monthly payments would Lisa need to make to Dolan Cars?
13.00 (plus or minus 0.3 payments)
13.23 (plus or minus 0.3 payments)
7.36 (plus or minus 0.3 payments)
7.49 (plus or minus 0.3 payments)
7.40 (plus or minus 0.3 payments)