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You decide to purchase a Ferrari 488. The bank agrees to give you $245,000 loan with a 2% simple interest rate for 12 years. How much will you owe back to the bank? You have 15 years to payback the loan.
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Aug 27, 2022
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You decide to purchase a Ferrari 488. The bank agrees to give you $245,000 loan with a 2% simple
interest rate for 12 years.
How much will you owe back to the bank?
You have 15 years to payback the loan. How much will your monthly payments?
Mathematics
high-school
Patrick Kelleter
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Answer:
The answer is
$ 836.03 monthly payments.
Binu George
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Aug 31, 2022
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Binu George
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