The monthly payment is ​$? round to the nearest cent

Question

Compute the monthly payments for a simple interest loan of ​$1040 ​, with an annual interest rate of 12 percent and a term of 5 years

Answer 1

Total interest is PTR/100 and I=1040*5*12/100=(3/5)1040=$624. Therefore the amount to be repaid is 1040+624=$1664. This is payable over 60 months, so the monthly amount is 1664/60=$277.33, to the nearest cent.

Answer 2

?????????? wen suppozed tu get the interest ????????????

borro 1040$ at 12%...yu pae interest=0.12*1040=124.80$/yeer

??????? yu gonna let interest akcomeulate over 5 yeers ??????????