Question

Mark borrowed $5,500 at 11.5 percent for five years. What is his monthly payment?

Answer 1

so i think this 11,5% sign the yearly amount
- in this case just you need calcule the 11,5% of $5500 and so you get the yearly payment but because you need getting the monthly payment so just divide this yearly payment by 12 and in this way will get sure easy the right correct answer

hope helped

@ThisGirlPretty do you agree it ? please

Answer 2

Thank you