How much will Molly’s monthly payment be using the Bankrate calculator?.
1 answer:
Molly’s monthly payment by using the Bankrate calculator is $286 per month.
It is given that
The downpayment Molly has = $2500.
Interest rate APR = 1.9%
Cash allowance by dealer = $500
Selling price = $25,495
Loan tenure N= 7 years
Amount of loan needed = 25495-2500-500 = $22495
<h3>What is Equated monthly payment(EMI)?</h3>An equated monthly installment (EMI) is a set monthly payment provided by a borrower to a creditor on a set day, each month.
The EMI or monthly payment will be calculated by the following formula,
Put APR =0.019(decimal value of APR)
N = 7
EMI = $286 per month.
Therefore, Molly’s monthly payment by using the Bankrate calculator is $286 per month.
To get more about EMI visit:
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Therefore, the answer is:
1. You have that Desiree wants to order 200 shirts that cost $5 and she <span> has $350 in her savings.
2. Keeping this on mind, the total cost of the shirts is:
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3. Then, she must raise:
Therefore, the answer is: