Respuesta :
Answer:
Step-by-step explanation: Interest = $90 annually
2/3 x 90 = $60
3000 + 60 = 3060
3060 / 8 months
= $382.5 monthly (if annually)
3000 + 90 = $3090
$3090/8
= $386.25
$386.25 would be his monthly payment .
What is interest?
Interest exists payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount exceeding repayment of the principal sum, at a particular rate. It stands separate from a fee that the borrower may pay the lender or some third party
Interest = $90 annually
2/3 x 90 = $60
3000 + 60 = 3060
3060 / 8 months = $382.5 monthly (if annually)
3000 + 90 = $3090
$3090/8 = $386.25
$386.25 would be his monthly payment .
To learn more about interest refer to:
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