Question

Susan buys a new cell phone priced at $145 and agrees to pay for it over 12 months with 10% simple interest. What is her monthly payment? If the amount of the last payment is slightly different, your answer should be the amount of the payment that was made during the first 11 months.

Answer 1

Answer:

Monthly payment 13.

Explanation:

No Mont Capital Interest

   

1         13 12 1

2         13 12 1

3         13 12 1

4          13    12 1

5          13 12 1

6          13 12 1

7         13 12 1

8          13 12 1

9         13 12 0

10         13 12 0

11          13 13 0

12         13 13 0

     153   145 8