shenzhen10 shenzhen10

10-05-2019
Mathematics

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Brainly friends pls. Help me answer this simple math problem.

You are borrowing $25,000 in a student loans at 10% with a 12 year term.
What is your monthly payment?
Pls. Help me how to solve

Respuesta :

MohamedSobhy MohamedSobhy

10-05-2019

25000 * 10% * 12 years

= 25000 * 0.10 *12

= 30000 $

Total = 25000 + 30000

= 55000 $

Yearly payment = 55000 / 12 years = 4583.33 $

Monthly payment = 4583.33 / 12 = 381.944 $

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