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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.

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asked by Lisa
  1. Assistance needed.

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    posted by Ms. Sue
  2. 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.

    1. 0
    2. 0
    posted by Lisa
  3. 33.45 * 12 = $401.40 annually

    401.4 / 2500 = 0.16056 = 16.056%

    10,000 * 0.16056 = 1605.6

    $1605.60 / 12 = ?

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    posted by Ms. Sue
  4. 742

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    posted by Dave

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