alexasbrinser216
alexasbrinser216 alexasbrinser216
  • 24-01-2017
  • Mathematics
contestada

Frank took out a five-year loan of $48,000 with an annual interest rate of 5%. Calculate his monthly payment

Respuesta :

brianamcelroy0
brianamcelroy0 brianamcelroy0
  • 24-01-2017
He would have a monthly payment of $200
You multiply 48,000 by 5% and get 2400 then you multiply that by 5. 
You get 12000.
To find his monthly payment you just Take 12 (number of months in a year) and times that by 5 (number of years) to get 60.
Then you take the 12000 and divide by 60 to get $200.
Answer Link

Otras preguntas

Why are the "majority opinions" of the Supreme Court so important? A) they establish legal precedents B) they are outside of jurisdictions C) they are not met w
A(n) __________ test measures what it is supposed to measure. A. valid B. standardized C. reliable D. intelligence
After a heavy rain in california where is mudflow most likely to occur
Answers please??? (If you can.)
In a group of 1,500 people, 585 have blood type A, 165 have blood type B, 690 have blood type O, and 60 have blood type AB. What is the probability that a perso
Which of the following statements reflects the broad economic goal of equity? Congress increasing funding for space exploration in order to boost high-tech empl
a virus is unlike an organism in that the virus is __________.
How do Wilbur and the lamb get along? A. They don't play together. B. They play sometimes. C. They are good friends. D. They ignore each other. WARNING!:
Which ray is opposite CD ? A. CD B. BD C. AC D. CA
2 6-2___ help please 7 (30points)