Ask Question
7 August, 10:34

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?

+4
Answers (1)
  1. 7 August, 13:54
    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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers