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12 November, 18:41

How much would you pay monthly on a $6,000 loan if you pay 12.5 percent for 10 years? $87.90 $70.32 $55.58 $125.00?

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  1. 12 November, 19:03
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    If you pay an interest of 12.5 %, the total loan that you should pay is 112.5/100 x 6,000 = 6,750

    Assuming that there is no accumulation and other agreement in payment, the monthly payment would be

    6750 / (12x10)

    = Approximately $55.58
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