IceClaws3309:
PLS HELP Darren is purchasing a car that costs $11,000. He is taking out a simple interest loan at an annual rate of 3%. If he makes monthly payments over a period of 5 years, how much is his monthly payment? $183.33 $191.67 $198.05 $210.83
MAGABACK:
well......I'm no expert on this.....but......it would be.....3/11,000 then divide that by 5 maybe?
Lura:
lemme see
Lura:
ohhh..uhmm..
MAGABACK:
you would some wear multiply and divide......I think
MAGABACK:
but that would be 700 something
MAGABACK:
#1 I think
IceClaws3309:
the answer choices are listed
MAGABACK:
ik
MAGABACK:
#1 is $183.33
Lura:
das fire
MAGABACK:
?
IceClaws3309:
can you tell me how you got the answer pls
MAGABACK:
well, 11,000/3/5/5. Not even sure I did it correctly.....itz confusing
MAGABACK:
but I think itz the answer
IceClaws3309:
it was incorrect
MAGABACK:
shoot. I'm not great at this........
MAGABACK:
3% of 11000 is 330. 330/5=66. hmmm I must be doing it wrong
savvyphantom:
yea
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