Register

Mary takes out a loan for $6,000 at a simple interest rate of 12% to be paid back in 36 monthly instalments. What is the amount of her monthly payments?

Mary takes out a loan for $6,000 at a simple interest rate of 12% to be paid back in 36 monthly instalments. What is the amount of her monthly payments?
asked 155k views
0 votes
Mary takes out a loan for $6,000 at a simple interest rate of 12% to be paid back in 36 monthly instalments. What is the amount of her monthly payments?

asked
User Rafsanjani
by
8.5k points

1 Answer

4 votes

Answer:

$199.29

Explanation:

Total payments = $7,174.24

Total interest = $1,174.24

answered
User Rewbs
by
7.9k 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

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!