MATH SOLVE

3 months ago

Q:
# What is the monthly payment of a financed amount of $14,452 with an APR of 8.9 percent? The term is for 5 years and the monthly payment per $100 is $2.41. $332.80 $348.29 $100.00 $241.00

Accepted Solution

A:

Answer: $348.29Step-by-step explanation:The payment is calculated by multiplying the rate per hundred times the number of hundreds. The latter is found by dividing the loan amount by $100. $2.41 Γ $14,452/$100 β $348.29