What amount do you pay each month for a loan of $8000 at a rate of 2% across 6 years?
1 answer:
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Solution:
Given equation is .
To solve the equation by step by step.
Step 1: Given
Step 2: Combine like terms together.
Plus symbol changed to minus when the term goes from right to left (or) left to right of the equal sign.
Step 3: Subtract the fractions in the left side.
⇒
Step 4: Divide both side of the equation by 3, we get
Hence, the answer is .