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Marc maxwell took out a simple interest loan at 13% interest for 12 months. his previous balance $2681.04. what is the final payment if the loan is paid off with the next paymen…

Marc maxwell took out a simple interest loan at 13% interest for 12 months. his previous balance $2681.04. what is the final payment if the loan is paid off with the next paymen…
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marc maxwell took out a simple interest loan at 13% interest for 12 months. his previous balance $2681.04. what is the final payment if the loan is paid off with the next payment

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User Mfreiholz
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7.7k points

1 Answer

1 vote
A=p(1+rt)
A=2,681.04×(1+0.13×1)
A=3,029.5752
answered
User Jacko
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8.6k points
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