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04-04-2017
Mathematics

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What is the monthly payment for a loan if the amount financed is $12385, the APR is 6.9% for 5 years and the monthly payment per $100 is $2.24?

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Aliwohaish12 Aliwohaish12

04-04-2017

12385=X[(((1-(1+0.069/12)^(-12*5))/(0.069/12)]
Solve for x
X=244.65

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