urielmendoza4u urielmendoza4u

08-03-2017
Mathematics

contestada

Trey is taking out a loan for 85000. Its a 20 year loan with an APR of 5.85. What will his monthly payment be

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Aliwohaish12 Aliwohaish12

08-03-2017

M=[(85000*(0.0585/12))(1+0.0585/12)^(12*20)] divided by [(1+0.0585/12)^(12*20))-1]=601.63
Hope it helps

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serinasantiago serinasantiago

08-03-2017

M=[(85000*(0.0585/12))(1+0.0585/12)^(12*20)] divided by [(1+0.0585/12)^(12*20))-1]=601.63
Hope it helps

Answer Link

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