Answer:
$4,541.67 per month.
Explanation:
From the question above, we see that the interest rate is 18%, therefore:
0.18 X 25,000 = 4,500 interest for one year.
But the loan is for 6months, that's half a year, therefore we have:
4,500 / 2 = 2,250 will be paid as interest for 6months.
The total amount paid monthly will therefore be spread evenly over 6months thus:
(2,250 + 25,000) / 6 = $4,541.67 will be paid per month.
The florist can handle this loan because she wants to complete the sale of an unused property.
