Question

Alec's total payment for his loan was $19,440. What was his monthly payment if he paid it off after making 60 monthly payments?

A. $298
B. $312
C. $324
D. $336

Answer 1

the answer is C hope it helps

Answer 2

C. $324.

Explanation:

We have been given that Alec's total payment for his loan was $19,440.

To find the amount of Alec's monthly payment we will divide the total amount by total number of monthly payments.

`\text{Alec's monthly payment}=(\$19,440)/(60)`

`\text{Alec's monthly payment}=\$324`

Therefore, Alec's monthly payment was $324 and option C is he correct choice.