Ellis Klein borrows $2,000 at an annual interest rate of 7.2% for two years. Calculate his monthly payments.

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asked Jun 19, 2017 149k views

1 Answer

Daniel MesSer · Answer 1 · 2017-06-25T16:48:00+0000

$89.73

You will need to pay $89.73 every month for 2 years to payoff the debt.Monthly Payment: $89.73
Time to Pay Clear: 2.00 years
Total of 24 Payments: $2,153.44
Total Interest: $153.44

Ellis Klein borrows $2,000 at an annual interest rate of 7.2% for two years. Calculate his monthly payments.

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