jpersinger96 jpersinger96
  • 03-01-2018
  • Mathematics
contestada

If John has taken a loan of $60,000 at a yearly interest rate of 8 percent, what is John’s interest expense for every month?

Respuesta :

josiecope
josiecope josiecope
  • 30-09-2020

Answer:$7500 dollars per month

Step-by-step explanation:

Answer Link
jayk0311 jayk0311
  • 13-03-2022

Answer:

total interest for the year is $4800

$4800 / 12 = $400 monthly interest expense

so correct answer is $400

Step-by-step explanation:

A = $64,800.00

I = A - P = $4,800.00

Equation:

A = P(1 + rt)

Answer Link

Otras preguntas

who created the movie the musicman
is this correct. Thank you.
What is spider lightning
Calculate the derivative of [tex] \int\limits^a_ 0{(tdt)/(t+1) \,[/tex] a = [tex] x^{2} [/tex]
ΔRST and ΔXYZ are equilateral triangles. The ratio of the perimeter of ΔRST to the perimeter of ΔXYZ is 1 to 3. The area of ΔRST is 10.825 square inches. What i
(a) Alan bought 26 pounds of flour for $11 . How many dollars did he pay per pound of flour? (b) At Smith's Bike Rentals, it costs $33 to rent a bike for
why is protecting religious freedom important both in colonial times and today
is 5x2y and (2xy2 + x2y) a monomial or bonomial
Why was the Declaration of Independence such a radical document? A. It claimed that governments must be representative of the people. B. It argued that no gover
Find a number that is between 6/11 and 0.67 repeating. A. 11/18 B. 69/99 C. 24/33 D. 26/55