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1. What would be the monthly payment on a 5 year loan of $35,000 if the...

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Finance

1. What would be the monthly payment on a 5 year loan of $35,000if the interest rate is 6.0% compounded monthly?

2. Sarah bought a raft for $664 using her credit card. Theinterst rate is 0.186 compounded monthly. If she pays $23 a month,how long will it take her to pay off the credit card?

3. What would be the monthly payment on a 5 year loan of $24,000if the interest rate is 5.0% compounded monthly?

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1Information provided Present value 35000 Time 5 years12 60 months Interest rate 612 050 per month The monthly payment is computed by entering the    See Answer
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1. What would be the monthly payment on a 5 year loan of $35,000if the interest rate is 6.0% compounded monthly?2. Sarah bought a raft for $664 using her credit card. Theinterst rate is 0.186 compounded monthly. If she pays $23 a month,how long will it take her to pay off the credit card?3. What would be the monthly payment on a 5 year loan of $24,000if the interest rate is 5.0% compounded monthly?

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