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Toms total payment for his loan was $14, 256. He paid it off after making 48 monthly payments. What was his monthly payment? 286 297 310 324

Toms total payment for his loan was $14, 256. He paid it off after making 48 monthly payments. What was his monthly payment? 286 297 310 324
asked 213k views
5 votes
Toms total payment for his loan was $14, 256. He paid it off after making 48 monthly payments. What was his monthly payment?

286

297

310

324

asked
User Excel Hero
by
7.7k points

2 Answers

3 votes

Answer:

Tom's monthly payment was $297.

Explanation:


answered
User Christopher McGowan
by
8.1k points
3 votes
To solve this problem, we just need to divide his total payment by the number of monthly payments he made:

14256 ÷ 48 = 297

Tom's monthly payment was $297.
answered
User Skif
by
7.9k points
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