What is the monthly payment on $13,300 financed at 7.9 percent for 4 years if the monthly payment per $100 is $2.74? a. $133 b. $364.42 c. 328.51 d. $284.44

The monthly payment is $364.42

B is correct

Step-by-step explanation:

The monthly payment on $13,300 financed at 7.9 percent for 4 years.

If the monthly payment per $100 is $2.74

Financed amount = $13,300

We are given monthly payment for $100 is $2.74

It means we pay $2.74 for $100.

Now we find how many number of $100 in $13,300

Number of $100 in $13,300

133 number of hundred in $13,300

For each $100 monthly payment  = $2.74

                           For 133 payment = 133 x 2.74

Monthly Payment for $13,300 finance = $364.42

Hence, The monthly payment is $364.42