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

What is the dictionary definition of biocontainment??
Why did Spain think that keeping Florida was impossible?
Everything in the world is composed of: minerals matter compounds
When did the slave trade finally come to an end in the Muslim world? A. 1750's B. The end of the 18th century C. By the beginning of the 20th century D. The
how hot is the surface of Uranus?
Identify all the points that are on the following quadratic function: y = x2 - 3x (0,3) (0,0) (2,-2) (-1,4) (-3,15)
A system whose graphs have the same slope but different y intercepts
If y is 15 times x, which equation shows the relationship between x and y? y = 15 + x x = 15 + y x = 15y y = 15x
What is the meaning of glanced
Most foodborne illness are treatable. Increasing fluid intake and rest will help you recover within a few days. True or false?