You have a loan for $200,000 at 8.5% annual simple interest. What is your monthly interest payment? a.1,239 b.1,311 c.1,417 d.1,508

asked Sep 13, 2022 36.9k views

4 votes

You have a loan for $200,000 at 8.5% annual simple interest. What is your monthly interest payment?

a.1,239
b.1,311
c.1,417
d.1,508

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4 votes

Answer:

$1,417

Explanation:

Berkcan answered Sep 14, 2022

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4 votes

Answer:

c. 1,417

Explanation:

200,000 (8.5%) = 17,000

17,000 / 12 = 1,416.67 or 1,417

Franfran answered Sep 20, 2022

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