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

The Assyrian culture is best known for which of the following traits? They were nomadic.They were militaristic.They were agricultural.They were democratic.
why did people become careless of the law
what is the difference between pulmonary circulation and systemic circulation in the cardiovascular system?
Which of the following is NOT a condition required by the government to label food "organic"? A. contains 95% organic ingredients B. animals must have access t
“Talk” by Harold Courlander and George Herzog is an example of what writing style?
factor the expression y2+6y-16
Greg kicked the soccer ball 75 feet. How many yards did he kick the ball
Which of the following uses a nonrenewable energy resource to generate energy? A. nuclear power plant B. wind farm C. fireplace that burns wood D.
Which words in the sentence are the infinitive? Paul completed many of the repairs and had only a few tasks left to finish. A. to finish B. and had only C.
Explain how the manilamen showed reason and logic include at least three details to support your answer