Home work help
posted by Lisa on .
I need help for this math question:
Can you provide the steps on how you got the answer to this question?
A bank requires a monthly payment of $33.45 on a $2500 loan. At the same rate, find the monthly payment on a $10,000 loan.

Assistance needed.

need help for this math question:
Can you provide the steps on how you got the answer to this question?
A bank requires a monthly payment of $33.45 on a $2500 loan. At the same rate, find the monthly payment on a $10,000 loan. 
33.45 * 12 = $401.40 annually
401.4 / 2500 = 0.16056 = 16.056%
10,000 * 0.16056 = 1605.6
$1605.60 / 12 = ? 
742