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Ssellenaemiy
Ssellenaemiy Ssellenaemiy
  • 08-09-2016
  • Mathematics
Answered

John borrows $3000 to

purchase new furniture. he will pay back the loan in 12 monthly payments of $333 how much will the loan cost ?

Verified Answer :

anonymoussloth
anonymoussloth anonymoussloth
  • 12-09-2016

The answer is $3,996

To get this you will need to multiply the monthly payments ($333) by the total number of payments (12)

$333x12= $3996

PS: You also payed $996 in intrest

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