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John takes out a loan for $12,000 at a simple interest rate of 4.5% to be paid back in 36 month lease documents what is the amount of monthly payments
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John takes out a loan for $12,000 at a simple interest rate of 4.5% to be paid back in 36 month lease documents what is the amount of monthly payments

User Taher Fattahi
by
5.7k points

1 Answer

2 votes

Answer:

$31,400(payment for 36 months)

Explanation:

4.5% of 12000 is 540.

540×36=19,440

19,440+12000=31,440

User Metalice
by
5.9k points
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