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11 June, 12:02

Chico Alvarez obtained a loan of $2,400 to install a new roof on his home. The interest rate is 12%. What is the interest on the first monthly payment?

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  1. 11 June, 12:35
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    If you do it this way

    2400 x. 12 = 288

    and then do 288 divided by 12 = 24

    making your answer $24
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