garrorosaoxocci garrorosaoxocci

04-02-2020
Mathematics

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The simple interest due on a six month loan of $2500 is $125. What is the monthly payment of the loan?

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DevonFen DevonFen

10-02-2020

The monthly payment of the loan is =$ 437.5

Step-by-step explanation:

Given , the simple interest due on a six month loan of $2500 is $125.

Total amount he paid =$ (2500+125)

=$2625

The monthly payment of the loan is =$(2625÷6)

=$ 437.5

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