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Pepsi [2]
2 years ago
5

John takes out a loan for $ 12 , 000 at a simple interest rate of 4.5 % to be paid back in 36 monthly installments. What is the

amount of the monthly payments? Round the answer to the nearest cent if necessary.

SAT
2 answers:
Setler79 [48]2 years ago
7 0

Answer:

M = 4,500

Explanation:

P = 12,000

i = 4.5% / (12 months) = 0.375

L = 36 months

                             0.375

M =  12, 000 * -----------------------------

                                                  -36

                        1 - ( 1 + 0.375)

M = 4,500

asambeis [7]2 years ago
4 0

Answer:

these gonna help u :)

Explanation:

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