Asked by Mary Ann

find the monthly payment for a loan. Round off to the nearest cents.

I did 300*0.10 = 30.00
330.00 divide by 12 years 27.50.
Where did I go wrong. It say my answer is wrong.
Thank you for who ever helps me
Answered by Ms. Sue
What is your original problem?
Answered by Mary Ann
300.00 Loan for 12 months @ 10%
Answered by Ms. Sue
I agree with you. You'd pay $27.50 per month if the rate is simple interest.

Double check to make sure problem is exactly what was given you.
Answered by mary ann
thank you so much
Answered by Ms. Sue
You're welcome.