tremsand16 tremsand16
  • 15-06-2020
  • Computers and Technology
contestada

Suzanne Brett wants to borrow $55,000 from the bank. The interest rate is 6.5% and the term is for 5 years.

What is the yearly payment amount?

Respuesta :

mhanifa
mhanifa mhanifa
  • 15-06-2020

Answer:

$14575

Explanation:

  • $55000
  • 6.5%
  • 5 years

Total payment amount:

  • $55000+5*6.5%= $55000 +32.5%= $55000 *1.325= $72875

Yearly payment:

  • $72875/5= $14575
Answer Link
aflo1
aflo1 aflo1
  • 05-11-2020

Answer:

$3,575

Explanation:

Answer Link

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