Question

You borrow $600 to buy a violin. The simple interest rate is 15%. You

pay off the loan after 5 years. How much do you pay for the loan?
What would the monthly payment be for the loan?

Answer 1

$1050

Explanation:

$600*15%*5=$450 interest

interest+borrowed=loan

$450+$600=$1050

I don't know the monthly payment sorry