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murzikaleks [220]
3 years ago
13

Item 18 A music company offers a loan to buy a drum set for $1500. The simple interest is 11.8% and the loan will be paid in equ

al monthly payments for 2 years. What is the monthly payment?
Mathematics
1 answer:
zmey [24]3 years ago
4 0
I think you have to first find out the the total payment with the  interest money which is (1500x11.8%) x2 +1500= $1854. So the monthly payment for 2 years will be
$1854/24 (2years=24months) = $77.3
 
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liberstina [14]

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6 0
3 years ago
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allochka39001 [22]

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3 years ago
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