Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. algebra
  3. given below is the principal owed on a student loa

Given below is the principal owed on a student loan last month the annual interest...

90.2K

Verified Solution

Question

Algebra

image

Given below is the principal owed on a student loan last month the annual interest rate and the way the minimum monthly payment is computed Find this month s minimum payment due Method for Calculating Minimum Monthly Payment finance charge 40 1 5 of principal Principal 23 700 Annual Rate 9 This month s minimum payment is Round to the nearest cent as needed CLIXE

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

Your parents bought your little brother a sandbox in the shape of a rectangular prism...

Finance
1.2K views

You are given the following information:      State of   Economy Probability of State of Economy Return on Stock J Return on Stock K   Bear .20 ?.030 .024   Normal .55 .128 .052   Bull .25 .208 .082    Calculate the...

Finance
1.2K views

Project L costs $40,055.10, its expected cash inflows are $9,000 per year for 9 years, and...

Chemistry
1.2K views

Calculate the pH of a .003 M solution of NaF, given that the Ka of HF...

Chemistry
1.2K views

Calculate the PH of 1.00 L of a buffer that is 0.130 M HNO2 and 0.170...

Physics
1.2K views

You and your friend go sledding. Out of curiosity, you measure the constant angle θ that...

Physics
1.2K views

The drawing shows a bicycle wheel ofradius r resting against a small step whoseheight is...

Accounting
1.2K views

DM01"1.1 Kris Nats get moto ripa biznis, Nuts and Bolts, we im stat fo 1...

Accounting
1.2K views

please do not put down income summary as an answer its wrong and not even...

Accounting
1.2K views

Queen Company issued bonds with a face amount of $2,000,000 in 2012. As of January...

Accounting
1.2K views

Show Me How Activity-based costing:factory overhead costs The total factory overhead for...

Finance
1.2K views

An investor purchased the following five bonds. Each bond had a par value of $1,000...