SnowyKittenz2591 SnowyKittenz2591

Today at 6:56 PM
Business

Answered

Corey obtained an installment loan of $1,000. The APR is 12%. He must repay the loan in 12 months. How do I find the monthly payment

Answer :

francocanacari francocanacari

Today at 7:01 PM

Answer:

The monthly loan payment will be $ 93.33.

Explanation:

Given that Corey obtained an installment loan of $ 1,000, and the APR is 12%, and I must repay the loan in 12 months, to determine how do I find the monthly payment, the following calculation must be performed:

(1000 x 1.12) / 12 = X

1120/12 = X

93,333 = X

Therefore, the monthly loan payment will be $ 93.33.

Answer Link

Other Questions

What are some aspects of the modern American political party system that began during the Jackson era?. . . beginnings of political action committees and fundra

A particle with a charge of − 5.10 nC is moving in a uniform magnetic field of B⃗ =−( 1.20 T )k^. The magnetic force on the particle is measured to be F⃗ =−( 3.

Delia files a suit against Eduardo in a Florida state court over the ownership of a boat docked in a Florida harbor. Both Delia and Eduardo are residents of Geo

What are some aspects of the modern American political party system that began during the Jackson era?. . . beginnings of political action committees and fundra

During a six-month period, 239 cases of pneumonia occurred in a town of 300 people. A clinical case was defined as fever 39°C lasting >2 days with three or more

The combustion in a compression ignition engine is . a.heterogeneous b.homogeneous c.laminar d.turbulent

Express each of the following ratios in the simplest form 36:90

1. What is a word ?2. What is a phrase ?

hhcayzewuy 100% privacy What is the largest source of groundwater in the Indian peninsula?

Em relação ao gerenciamento do cuidado no câncer de mama, an

How many ships did the US lose?

3. If you increase the volume of a gas, the pressure will a. Decrease c. Both b. Increase d. Neither

If a ball is thrown vertically upward at a speed of 77 feet per second from 5 feet off the ground, how long will it take to be 20 feet off the ground? Ot=2, 20

The "Salt March" of 1930 was a key moment in the independence movement of people in what country? A) Cuba B) Ethiopia C) India D) Vietnam

What is the name given to substances like iron and sulfur, which contain only one type of atom?

Which statement is true about the rectangles shown? They have the same area and perimeter. They have the same perimeter but different areas. They have different

The distribution of images on the pages of a 350-page catalog is found to follow normal distribution with a mean of 32 images per page and a standard deviation

An agent receives an offer of $350,000 on a property that she has listed for $355,000. When she is about to present the offer to the sellers, another offer come

Based on the Billy and Udry article, how are selection, deselection, and influence different in the way they impact greater similarity among adolescents who are

Amy Lou Young purchased a health insurance policy with a $500 deductible and 40% coinsurance. If Amy Lou incurs $6,500 in covered medical expenses, her policy w