I = PRT
I = 9,000 * 0.12 * 5
I = 5,400
(5,400 + 9,000) / (5 * 12) = _______ per month
Charlotte borrows $9000 over 5 years to buy a second hand car. The loan must be repaid over 5 years at 12% p.a. simple interest calculate the monthly repayment if the payments are spread equally over the 5 years.
2 answers
feq