paezmcp paezmcp
  • 12-07-2021
  • Mathematics
contestada

If $10,000 is borrowed at an APR of 18%, for a period of 5 years and payments are made monthly, what will be the monthly payment?

Relax

Respuesta :

Jennifer199130
Jennifer199130 Jennifer199130
  • 12-07-2021

Answer:

$381.29

Step-by-step explanation:

10000(1+.18)5

10000(1.18)5

Amount due $22877.58

since 5 years x 12 months =60 months

monthly payment is 22877.58÷60 = $381.29

Answer Link

Otras preguntas

list three items include in Henry clay's American system
1/2(x-5)^2-1=7 NEED HELP FAST
What is the genotype of exconjugants in experiment 2?
Provide the first six terms of the following sequence: t1=81 tn=1/3tn-1
The weather conditions at a given place over a long period of time is known as __________. A. climate B. precipitation C. temperature D. weather      Please sel
What is the probability that all three of them will have birthdays in the same month as you?
The most important reason for population increase in houston is:
Ace bought a jacket for 36 dollars.This was a reduction in the price of 20 percent. What was the original price of the jacket
if one or more of the amino acids incorporated into the variable regions of this antibody were changed which of the following would most likely also be true
Which of the following signs may indicate heat axhaustion