Mathematics
Mathematics, 17.04.2020 05:02, dontcare95

The interest is calculated each month on the unpaid balance using simple interest formula.

Ralph Phillips obtained a 12-mont, $1,500 loan at 12% His monthly payment is $133.20. For the first payment find:

A. Interest

B. The payment to principal

C. the new balance

Please list step by step

answer
Answers: 2

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