The formula m = 12,000 + 12,000rt 12t gives Keri's monthly loan payment, where r is the annual interest rate and t is the length

Question

3 years ago

12

of the loan, in years. What would Keri's monthly loan payment be if she got a 4% loan for 5 years? $ ___per month

2 answers:

alexandr1967 [171] · Answer 1 · 2022-06-03T23:13:38+03:00

3 0

Answer:

$240

Step-by-step explanation:

Fill in the given numbers and do the arithmetic.

$m=\dfrac{12,000+12,000rt}{12t}=\dfrac{12,000+12,000\cdot 0.04\cdot 5}{12\cdot 5}\\\\m=\dfrac{14,400}{60}=240$

Keri's monthly loan payment is $240 per month.

insens350 [35] · Answer 2 · 2022-06-04T01:06:22+03:00

3 0

Answer: 300 per month

Step-by-step explanation: