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What is the monthly payment rate for a $20,000 loan for 4 years with an annual interest rate of 4. 8%?
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5 votes
5 votes
What is the monthly payment rate for a $20,000 loan for 4 years with an annual interest rate of 4. 8%?

User Luuk Paulussen
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1 Answer

21 votes
21 votes

Answer:

The monthly payment rate should be $3,480.

Given that,

The monthly payment rate for a $20,000 loan for 4 years with an annual interest rate of 4.8%.

Based on the above information, the calculation is as follows:

= $3,480

User Huu Duy
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2.8k points
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