Question

25) Margie needs to borrow $9,000 from a local bank. The

loan has a 8.5% interest rate for 4 years. What will
Margie's monthly payment be?
A) $ 221,850.00
B) $3060.00
C) $250.0
D) $ 221.85

Answer 1

B) $3060.00

Explanation:

8.5% of 9,000 equals 765, then 765 multiplied by 4 equals 3060.

I think that it will take Margie 4 years to pay back the bank. And the interest rate that the bank charges is 8.5% per month.

I'm not sure if this is correct