Question

Linda takes out a loan for $4,000 she will repay the loan in 4 years Linda will pay $560 in interest how much is Linda's loan payment each month

Answer 1

Answer:

$1,280 every year and $106.66 every month.

Step-by-step explanation:

You would do 4,000 by 4. Which would be 1,000. Then you would divide 560 by 4. After, you add both of your products together and you get 1,280. Obviously there are 12 months in a year, so you would divide your sum by 12. Then you would get 106.66. Basically, that is how you would get the answer.

I hope this helps!

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