Question

Medal
Solve. (Round to the nearest hundredth, if necessary.)

A bank requires a monthly payment of $24.09 on a $2100 loan. At the same rate, find the monthly payment on a $52,500 loan.
$ per month

Answer 1

So (24.09/2100) is the ratio of payment required per dollar loan. So we have \[(24.09/2100) = (x/52500)\] Solve for x. Done.

Answer 2

0.9636

Answer 3

m i right?

Answer 4

No

Answer 5

\[\frac{ 24.09 }{ 2100 } = \frac{ x }{ 52,500 }\]

Answer 6

You should thus have:
\[52,500(24.09)=2100x\]

Answer 7

602.25

Answer 8

Yes

Answer 9

Yes, that's correct

Answer 10

is that rounded to nearest hundredth?

Answer 11

Yes it is.

Answer 12

ok thank you everyone :)

Answer 13

You're welcome :)