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Maricela was recently approved for an $18,000 loan for 5...
Mathematics, 31.05.2020 05:03 xxkeyxx51
Giving Brainliest if correct!!
Maricela was recently approved for an $18,000 loan for 5 years at an interest rate of 6.2%. Use the monthly payment formula to complete the
statement.
P(r/12)(1+r/12)^12t
M= (1 + r/12)^12t - 1
M = monthly payment
P= principal
r= interest rate
t = number of years
Maricela's monthly payment for the loan is $ _.
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