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OpenStudy (anonymous):
if ned nasaltone barrows 1500 at 5% interest and pays it back in 24 monthly payments of 65.81 what is the total cost of the loan
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OpenStudy (anonymous):
is this for an economics class? if so, then use the equation: \[F = A \frac { (1 + i)^n -1 }{i}\] F is future value [total cos of the loan] A is monthly payment [65.81] n is the number of months [24] i is the interst rate [0.05]
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