A college student borrows $1500 for 9 months to pay for a semester of school . if the interest is $92.81 find the monthly payment

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04-02-2020
Mathematics

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A college student borrows $1500 for 9 months to pay for a semester of school . if the interest is $92.81 find the monthly payment

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miarellabaez miarellabaez · Answer 1 · 2020-02-04T02:47:18+01:00

miarellabaez miarellabaez

04-02-2020

Total amount repayment = amount borrowed + interest

Total amount repayment
1,500+30.94= 1,530.94

Monthly payment
1,530.94 ÷3 months= 510.31

The answer is
510.31
Good luck and hope this helps

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