Ask a New Question

If I will be given a loan of sh. 500000 and required to pay a monthly interest of 5%. How much will I pay after 8 months?

#Please i need your help guyz#

1 answer

Do you mean 5%/yr.? If so:

P = Po + Po*r*t.

P = 500,000 + 500,000*(0.05/12)*8 =

Ask a New Question or answer this question.

Similar Questions

You have arranged for a loan on your new car that will require the first payment today. The loan is for $32,000, and the monthly
1. 1 answer
you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10%
1. 0 answers
you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10%
1. 0 answers
you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10%
1. 0 answers

more similar questions