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What is the monthly payment rate for a $20,000 loan for 4 years with an annual interest rate of 4.8%?
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What is the monthly payment rate for a $20,000 loan for 4 years with an annual interest rate of 4.8%?

User Golak Sarangi
by
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1 Answer

10 votes

Answer:

3840

Explanation:

Calculate your total interest by using this formula: Principal Loan Amount x Interest Rate x Time (aka Number of Years in Term) = Interest.

User JBuenoJr
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