The simple interest due on a 6-month loan of $2,500 is $125. What is the monthly payment on the loan?

asked Oct 24, 2020 199k views

1 vote

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5 votes

Answer:

$437.50

Explanation:

2500 +125=2625

2625/6=437.50

Gyandeep answered Oct 25, 2020

7.8k points

5 votes

I think the answer would be $417 dollars for the 6 months for every payment 417x6=$2,502

Nick Uraltsev answered Oct 28, 2020

8.0k points

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