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NISA [10]
3 years ago
14

Solve this please math problem asap please

Mathematics
2 answers:
Marysya12 [62]3 years ago
6 0
The answer is 87. I arrived at my answer
Gennadij [26K]3 years ago
4 0

Answer:

87

Step-by-step explanation:

Hope this helps

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Marci has taken out a loan of $5,000 for a term of 24 months (2 years) at an interest rate of 8.5%. Use the amortization table p
andreyandreev [35.5K]

Answer:

  • $227.30
  • $455.20

Step-by-step explanation:

The table tells you that Marci's monthly payment on a 2-year loan at 8.5% will be $45.46 on each $1000 borrowed. For her $5000 loan, her monthly payment will be 5 times the table value, or ...

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__

Her total of 24 payments will be ...

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That amount is $445.20 more than the amount borrowed, so that is Marci's finance charge.

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Marci's monthly payment will be $227.30, and her total finance charge will be $455.20.

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