calculate simple interest on a loan for $1,800 with a 6% interest rate that will be paid back after 2 years. what would the monthly payment be?

Ardeshir Izadi asked May 11, 2023

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Ardeshir Izadi asked May 11, 2023

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15 votes

Answer:

the monthly payment be 2016

Explanation:

I = p×(1+ rn )

I=1800×(1+ 6/100 ×2)

∴I= 2016

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