Ask Question
2 December, 00:56

Suppose you borrow $1,200 at an add-on interest rate of 5% for 4 years. What will be the amount of your monthly payment?

+2
Answers (1)
  1. 2 December, 01:01
    0
    1200 * (5% * 4) = 240

    240 + 1200 = 1440

    1440/12 = $120

    The answer is $120 per month.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose you borrow $1,200 at an add-on interest rate of 5% for 4 years. What will be the amount of your monthly payment? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers