Determine the monthly payment for the installment loan. Use the installment payment formula m =
Amount
Financed (P)
$1,970
OA. $90.00
B. $172.28
OC. $996.10
D. $287.00
Annual Percentage
Rate (r)
k
9%
Number of Payments
per Year (n)
12
Time
in Years (1)
2
PA
1-(¹+-=-)
