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17 August, 08:44

Tom's total payment for his loan was $14,256 he paid it off at making 48 monthly payments what was his monthly payment

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  1. 17 August, 08:52
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    The monthly payments = $ 297

    Step-by-step explanation:

    It is given that, Tom's total payment for his loan was $14,256 he paid it off at making 48 monthly payments

    To find the monthly payments

    we have,

    Total payment = $14256

    Number of monthly payments = 48

    Monthly payments = 14256/48 = 297

    Therefore Tom's monthly payments of his loan = $ 297
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