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trey is taking out 85,000. It is a 20 year loan with an APR of 8.75%. What will his monthly payment be?

User Max N
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1 Answer

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Answer:$4621.88 monthly

Explanation:

you do 85000 divided by 20 because it's a 20 year loan then you get 4250 and then to find the APR you do 4250*8.75% to get 4621.875 and you need to round because this is a amount of money so it can not have a thousandths place

User Tarek Hammami
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