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

Question

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

Answer 1

What is your original problem?

Answer 2

300.00 Loan for 12 months @ 10%

Answer 3

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.

Answer 4

thank you so much

Answer 5

You're welcome.