contestada

Victoria will borrow $31,652 at 15.5% APR. She will pay it back over 6 years. Whatwill her monthly payments be? (Use the table) Round to the nearest whole dollar.

Victoria will borrow 31652 at 155 APR She will pay it back over 6 years Whatwill her monthly payments be Use the table Round to the nearest whole dollar class=

Respuesta :

Given:

Principal =$31652.

Rate of interest = 15.5 %.

Time = 6 years.

We get the monthly payment per $100 is 2.141 for the interest 15.5 % and 6 years from the table.

The monthly payment of $31652 is

[tex]=\frac{31652}{100}\times2.141[/tex]

[tex]=677.669[/tex]

Round off to the nears dollar.

[tex]=\text{ \$ 678}[/tex]

The monthly payment of $31652 is $ 678.

Otras preguntas