Register

A college student borrows ​$3,000 for 3 months to pay for a semester of school. If the interest is ​$61.88 find the monthly payment

A college student borrows ​$3,000 for 3 months to pay for a semester of school. If the interest is ​$61.88 find the monthly payment
asked 189k views
5 votes
A college student borrows ​$3,000 for 3 months to pay for a semester of school. If the interest is ​$61.88 find the monthly payment

asked
User Vadim Ponomarev
by
8.2k points

1 Answer

5 votes
Given:
Amount borrowed = $3,000
Interest = $61.88
Duration = 3 months

Obligation = 3000 + 61.88 = 3061.88
Monthly payment = 3061.88/3 = $1,020.63

Answer: $1,020.63

answered
User ACyclic
by
7.8k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!