Question

Pleaseeee Helpppp

Tom's total payment for his loan was $15,264. He paid it off after making 72 monthly payments. What was his monthly payment ? A. $212 B. $228 C. $236 D. $242

Answer 1

$15, 264 divided by 72 = 212. So it's A. $212.

Answer 2

A. $212

Step-by-step explanation:

We are given that the total loan value was $15,264

Tom paid this value on 72 monthly payments.

Assuming that all monthly payments are equal, i.e he paid the same amount each month, we can proceed as follows:

Now, we have $15,264 paid over 72 months. To get the monthly payment, we will simply divide the total amount by the number of months as follows:

monthly payment =
`(15,264)/(72)` = $212

Hope this helps :)