You want to buy a $\$ 16,000$ car. The company is offering a $4 \%$ interest rate for 48 months ( 4 years). What your monthly payments be?
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Step 1 ：The problem is asking for the monthly payments for a car loan. The total amount of the loan is $16,000, the interest rate is 4% per year, and the loan term is 48 months.

Step 2 ：To calculate the monthly payments, we can use the formula for the monthly payment on an amortizing loan, which is: \(P = \frac{r*PV}{1 - (1 + r)^{-n}}\) where: P is the monthly payment, r is the monthly interest rate (annual rate / 12), PV is the present value, or principal, of the loan, and n is the number of payments (or periods).

Step 3 ：Let's plug in the values and calculate the monthly payment. The present value PV is $16,000, the annual interest rate r_annual is 4%, so the monthly interest rate r is \(\frac{4}{100}/12 = 0.0033333333333333335\), and the number of payments n is 48.

Step 4 ：Substitute these values into the formula, we get \(P = \frac{0.0033333333333333335*16000}{1 - (1 + 0.0033333333333333335)^{-48}} = 361.26487426703204\).

Step 5 ：Final Answer: The monthly payments would be approximately \(\boxed{361.26}\).