Question

Carl Lock took out a simple interest loan at 12.75% interest for 12 months. His previous balance is $942.36.

What is his final payment if the loan is paid off with the next payment?

Answer 1

Answer:I believe it is $955.11

Explanation:

Divide the interest by 12 (number of months) which comes to about $1.07 (rounded) multiply that by 12 which give you with how much the total interest is, add it by the total and boom