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You borrow $530 to buy a trombone. The simple annual interest rate is 10%. You pay off the loan after 2 years of equal monthly payments. How much is each payment?
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Dec 8, 2023
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You borrow $530 to buy a trombone. The simple annual interest rate is 10%. You pay off the loan after 2 years of equal monthly payments. How much is each payment?
Mathematics
high-school
Chanda Korat
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Explanation:
interest=principal*rate*time/100
I=530*10*2/100
I=$106
Helpermethod
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Dec 14, 2023
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Helpermethod
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