Posted by **Dee** on Sunday, March 25, 2012 at 3:37pm.

Maya bought a car for $15,000. To pay for it, she took a bank add-on interest loan at an annual interest rate of 9%. The loan term is 5 years. How much interest will she pay and what are her monthly payments?

- Math -
**Ms. Sue**, Sunday, March 25, 2012 at 3:45pm
I = PRT

I = 15,000 * 0.09 * 5

I = 6750

(15,000 + 6750) / 60 = _______ monthly payment

- Math -
**Anonymous**, Monday, December 3, 2012 at 5:59am
Greg bought a unit for $100000 at 10% per annum. Reductable interest and payments are $540 per fortnight.

Show progress of first 6 weeks.

Greg also borrowed $2000 and intrest rate is 10%. he made a quarterly payment of $500 Draw up a table until all is paid. How much will his last payment be.

## Answer This Question

## Related Questions

- math - Five years ago, you bought a house for $151,000, with a downpayment of $...
- MATH - Five years ago, you bought a house for $151,000, with a down payment of $...
- Math Finance please help - Five years ago, you bought a house for $151,000. You ...
- Finance - Five years ago, you bought a house for $151,000. You had a down ...
- Algebra: Statistics - Five years ago, you bought a house for $151,000, with a ...
- math - you borrow $1200 from a bank that bank charges 9.5% simple annual ...
- Loan - Borrower Brown borrowed $8,000 from the bank. He will pay 6% simple ...
- Math - Joanie takes a $6,000 loan to pay for her car. The annual interest reate...
- Math - Tonya took out a loan to help pay for her house. She borrowed $50,000 for...
- Math - Tonya took out a loan to help pay for her house. She borrowed $50,000 for...

More Related Questions