Tom's total payment for his loan was $10,368. What was his monthly payment if he paid it off after making 48 monthly payments? $204 o $216 $228 $234

Question

asked Feb 5, 2021 20.9k views

2 Answers

Amrit Trivedi · Answer 1 · 2021-02-10T00:57:45+0000

Answer:

$216

Explanation:

This question does not involve interest, so all we need to do is to divide the total of payments ($10,368) by the number of payments (48):

$10,368

--------------- = $216/month

48