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

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

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