CWD5150 CWD5150
  • 04-04-2017
  • Mathematics
contestada

What is the monthly payment for a loan if the amount financed is $12385, the APR is 6.9% for 5 years and the monthly payment per $100 is $2.24?

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 04-04-2017
12385=X[(((1-(1+0.069/12)^(-12*5))/(0.069/12)]
Solve for x
X=244.65
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