How big a down-payment must Jimmie make on the $29,000 car if the nominal interest rate is 8.5

Jimmie would like to pay off his car loan in three years (see
Problem 38), but can only afford monthly payments of $594.98. How big a
down-payment must Jimmie make on the $29,000 car if the nominal interest rate
is 8.5 percent with monthly compounding?
Topic: Loan
Arrangements
Level of difficulty: Medium