Give me 5 things u want for Christmas and 3 words to describe you :))
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For this case we have that the point-slope equation of a line is given by:
Where:
m: It is the slope of the line
It is a point through which the line passes
In this case we have to:
Substituting in the equation we have:
Answer:
We just need to replace the value of the slope
The monthly principal and interest payment John will pay monthly is $3,750.04
<h3>What is the amount of principal and interest repayment?</h3><h3 />Given:
- P = 10,000
- i = 5% / (12 months) = 0.375
- L = 36 months
Approximately,
M = $3,750.04
Therefore, John will be be repaying $3,750.04 monthly including principal and interest
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