A college student borrows ​$ 2,000 for 3 months to pay for a semester of school. If the interest is ​$​41.25 find the monthly payment.

Question

A college student borrows ​$ 2,000 for 3 months to pay for a semester of school. If the interest is ​$​41.25 find the monthly payment.

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Đan Thu 3 months 2021-07-21T10:01:14+00:00 1 Answers 12 views 0

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    2021-07-21T10:03:08+00:00

    Answer:

    \$680.42

    Step-by-step explanation:

    Given:

    Amount borrows =\$2000

    Interest =\$41.25

    Time =3 months

    Obligation =2000+41.25=2041.25

    Monthly payment =\frac{2041.25}3=\$680.42

    Answer: \$680.42

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