Question
Harry borrowed $1,800 for two years at 13% a year under an
add-on plan. He repaid the loan, including interest, in 24 equal
payments. How much was each payment?
add-on plan. He repaid the loan, including interest, in 24 equal
payments. How much was each payment?
Answers
bobpursley
The first thing I wonder is how was interest compounded?