flamejetrocket2 flamejetrocket2

02-04-2020
Mathematics

contestada

Jacey gets a $500
loan at a simple
annual interest
rate of 5%. She will
pay back the loan
in equal monthly
payments over one
year. How much is
each payment?

Respuesta :

lilgunter12 lilgunter12

02-04-2020

Answer:

She will have to pay 43.75$ monthly to fully pay the loan back in one year.

Step-by-step explanation:

5% of 500$ is 25 dollars.

add 500 + 25 = 525

divide 525 / 12 to represent the months of a year. = 43.75$

Answer Link

Otras preguntas

By tradition, when does the presidential campaign begin?

Can some one please help me with this ???

What represents instantaneous velocity on a graph?

a number is k units to the left of 0 on the number line. describe the location of its opposite.

What is 3,200,000,000,000 in scientific notation

The moon is about 240,000 miles from Earth period what is the distance written as a whole number multiplied by a power of 10

What is the relationship between rational numbers and ratios

To select a file to move in the Computer window, you should ____ the file.

-2m + 4m + 5 = -3 Tell me what you did please!

4.44 4.044 greater or less