Mathematics, 08.09.2021 20:50 kenleighbrooke67

Mercedes takes out a loan for $15,000 at a simple interest rate of 4% to be paid back in 48 monthly installments. What is the amount of the monthly payments?
Round the answer to the nearest cent if necessary.

A. $328.50

B. $365.00

C. $360.00

D. $362.50

Answers: 3

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More questions: Mathematics Another questions

Mercedes takes out a loan for $15,000 at a simple interest rate of 4% to be paid back in 48 monthly installments. What is the amount of the monthly payments? Round the answer to the nearest cent if necessary. A. $328.50 B. $365.00 C. $360.00 D. $362.50

Answers

Another question on Mathematics

Mercedes takes out a loan for $15,000 at a simple interest rate of 4% to be paid back in 48 monthly installments. What is the amount of the monthly payments?
Round the answer to the nearest cent if necessary.

A. $328.50

B. $365.00

C. $360.00

D. $362.50