Mathematics, 21.05.2020 20:04 pinnij20
Katelyn plans to apply for a $10,000 loan at an interest rate of 5.6% for 5 years. Use the monthly payment formula to complete the statement
P(r/12)(1 + r/12) ^12t
M = (1 + r/12)^12t - 1
M=monthly payment
P=principal
r=interest rate
t=number of years
Rounded to the nearest cent Katelyn's monthly payment for the loan is $?
Answers: 2
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Katelyn plans to apply for a $10,000 loan at an interest rate of 5.6% for 5 years. Use the monthly p...
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