Apply the formula M=(P⋅(r)/(12)⋅(1+(r)/(12))^12⁢t)/((1+(r)/(12))^12⁢t−1) to find the monthly repayment for a loan amount of $⁢25,000 at an annual interest rate of 8% for a period of 20 years.

Name: Revolt
Rating: 4.5 (1200 reviews)

Question

Revolt · Accepted Answer

209 point 0 0 dollars

Student Loans - Quiz Quiz

Apply the formula M=(P⋅(r)/(12)⋅(1+(r)/(12))^12⁢t)/((1+(r)/(12))^12⁢t−1) to find the monthly repayment for a loan amount of $⁢25,000 at an annual interest rate of 8% for a period of 20 years.

More from this Course