Question

Ellis Klein borrows $2,000 at an annual interest rate of 7.2% for two years. Calculate his monthly payments.

Answer 1

$89.73

You will need to pay $89.73 every month for 2 years to payoff the debt.Monthly Payment: $89.73
Time to Pay Clear: 2.00 years
Total of 24 Payments: $2,153.44
Total Interest: $153.44