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1. The simple interest due on a 2.5-year loan of $8, 500 is $1,062.50. Find the monthly payments on the loan. -$825.50 - $1,062.50 - $3, 825 -$318.75

1. The simple interest due on a 2.5-year loan of $8, 500 is $1,062.50. Find the monthly payments on the loan. -$825.50 - $1,062.50 - $3, 825 -$318.75
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1 vote
1. The simple interest due on a 2.5-year loan of $8, 500 is $1,062.50. Find the monthly payments on the loan.

-$825.50
- $1,062.50
- $3, 825
-$318.75

asked
User Timo Haberkern
by
8.2k points

1 Answer

1 vote
The monthly payment on the loan would be of -$318.75
answered
User Keith Robertson
by
8.2k points
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