207100
207100 207100
  • 25-02-2021
  • Mathematics
contestada

If you take out a loan for $400.00 at a rate of 8% simple interest and pay it off over 1 year, what will be your monthly payment? You will pay _____ a month.
10 points, please answer.

Respuesta :

cmckee660
cmckee660 cmckee660
  • 25-02-2021

Answer:

$36 a month

Step-by-step explanation:

400÷0.08=32

400+32=$432

432÷12=$36

Answer Link

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