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3 years ago

12

John borrowed 1200 at 9% simple interest. He agrees to repay the loan by making 18 equal payments monthly. How much is the month

ly payment?

1 answer:

Ratling [72]3 years ago

5 0

1200 times .09 = 108

so $108 interest

1200 +108 = 1308

1308 divided by 18 equals 72.67

so $72.67 a month

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3 years ago

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3 years ago

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Step-by-step explanation:

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3 years ago

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Step-by-step explanation:

From the question,

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3 years ago