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Katie bought a bike on an Installment loan for 762 on a 14% interest rate. She will pay it back with 42 monthly payments. What is the Amount borrowed?

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asked Aug 14, 2022 139k views

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Katie bought a bike on an Installment loan for 762 on a 14% interest rate. She will pay it back with 42 monthly payments. What is the Amount borrowed?

Business
high-school

Prathamesh Doke asked

by Prathamesh Doke

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1 Answer

5 votes

Answer:

868.68

Step-by-step explanation:

14% of 762 is 106.68 + the 762 total cost of the bike is 868.68

Horane answered Aug 21, 2022

by Horane

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Katie bought a bike on an Installment loan for 762 on a 14% interest rate. She will pay it back with 42 monthly payments. What is the Amount borrowed?

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