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Sally Ray borrowed $38,000 to buy a new Chevy Volt. Assuming an interest charge of $4,100, what will be her monthly payment if she takes 25 months to repay the loan interest. Assume the loan is repaid
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Sally Ray borrowed $38,000 to buy a new Chevy Volt. Assuming an interest charge of $4,100, what will be her monthly payment if she takes 25 months to repay the loan interest. Assume the loan is repaid in equal payments

User Wright
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1 Answer

4 votes
$1,684 monthly.

38,000 + 4,100 = 42,100

42,100 / 25 = 1684
User Fizzybear
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