Question

PLEASE HELP I NEED THIS FOR TONIGHT!!!!! Attending the University of Houston Main Campus

The bank agrees to give you a loan of $35,000 with
4% simple interest over 8 years. How much will your
monthly payments be? Or. Attending the university of California Los Ángeles The bank agrees to give you a loan of $48,000 with 2% simple interest over 9 years. How much will your monthly payments be?

Answer 1

I think its +$14.58 a month

the second question I think is +$8.89 a month

Explanation:

4% of 35000 equals 1400 in 8 years 12 months in a year times 8= 96 months 1400/96= $14.58 a month

960=2% of 48000

960 in 9 years 12 times 9= 108

960/108= 8.89