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9 April, 21:24

Benson has a bankruptcy on his credit report

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  1. 9 April, 23:59
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    Given:Interest = 180term = 1 yearInterest rate = 2%

    We need to get the principal amount using the simple interest formula.

    Interest = Principal * interest rate * term180 = P * 2% * 1180 / 2% = P9,000 = Principal

    Benson pays an additional interest of 9,000 each year. A monthly payment of 750.

    9,000 / 12 months = 750 per month.
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