Find the amount of interest and the monthly payment for the loan. Purchase a living room set for $3,800 at 12% add-on interest for 4 years. (Round your monthly payment to the nearest cent.)

Question

Find the amount of interest and the monthly payment for the loan. Purchase a living room set for $3,800 at 12% add-on interest for 4 years. (Round your monthly payment to the nearest cent.)
$ interest
$ per month

Ms. Sue · Answer

Interest = 3,800 * 0.12 * 4 Add the interest to the cost of the set. Divide by 48.

Anonymous · Answer

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