Register
Mary takes out a loan for $ 5 , 000 at a simple interest rate of 3.5 % to be paid back in 36 monthly installments. What is the amount of her monthly payments?
226k views
3 votes
Mary takes out a loan for $ 5 , 000 at a simple interest rate of 3.5 % to be paid back in 36 monthly installments. What is the amount of her monthly payments?

User Ben Sullivan
by
5.3k points

1 Answer

6 votes
5000X 3.5/100=175
5000+175=5175/36=143.75
User Stephen Cagle
by
6.5k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.6m questions

8.7m answers

Other Questions

What is the least common denominator of the four fractions 20 7/10 20 3/4 18 9/10 20 18/25
What is 0.12 expressed as a fraction in simplest form
arlos has $690,000 he wants to save. If the FDIC insurance limit per depositor, per bank, is $250,000, which of these ways of distributing his money between three banks will guarantee that all of his money
Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
What is the initial value and what does it represent? $4, the cost per item $4, the cost of the catalog $6, the cost per item $6, the cost of the catalog?
Link Copied!