Jack decides to borrow £720 for 1 year to buy a new computer . The APRIL is 10,5%. calculate the added interested and the total amount payable? . If jack sets up a standing order to pay the loan what will his monthly payment be ?

Answer 1

I = Prt

I = 720 * 0.105

I = 75.6

(729 + 75.6) / 12 = £________