Reda would like to calculate her monthly payment for a car loan. How can she do this?

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06-01-2021
Mathematics

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Reda would like to calculate her monthly payment for a car loan. How can she do this?

Sagot :

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Adetunmbiadekunle Adetunmbiadekunle · Answer 1 · 2021-01-10T19:28:47-05:00

Answer:

Answer in explanation

Step-by-step explanation:

To calculate the monthly loan payment, she needs to have the total payment value

She can then proceed to divide the total payment value by the number of months in which she is to repay the loan

In further terms, what we mean here is that she needs to add the loan interest value to the amount of its principal ( this is based on the type of finance she has)

Then, the cumulative loan value is then divided by the number of months that is present in the number of years for which she is to make repayment for the loan amount

Sagot :

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