i = .14/12 = .0116666...
n = 12
400 = payment (1 - 1.011666...^-12)/.01166..
I get payment = 35.91
Find the monthly payment for the loan. (Round your answer to the nearest cent.)
$400 loan for 12 months at 14%
2 answers
(400 * 1.14)/12 = 38