annabferguson annabferguson

10-02-2021
Mathematics

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what is the monthly interest payment for an account with a balance of $200.00 and an A.P.R of 18%

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celiscarmen celiscarmen

10-02-2021

Answer:

Find the monthly rate: Divide the APR by 12. : 18/12= 1.5

Multiply that the monthly rate by the amount of the loan: $200X1.5% = 3.-

$3.- is the monthly interest payment

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