Question

How ugh are monthly payments on 100000 for 36 mo, at 9% ?

Answer 1

(100,000 * 1.09 * 3) / 36 = $_______

Answer 2

I think we should use compound interest here.

i = .09/12 = .0075
let the payment be p

p( 1 - 1.0075^-36)/.0075 = 100000
p = $3179.97