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You have a loan for $200,000 at 8.5% annual simple interest.what is your monthly interest payment

Sagot :

williampruitt04

Answer:

~1467

Step-by-step explanation:

$200,000 x 8.5% or .085 = $17,000 Annualy

$17,000 / 12 Months out of the year = $1466 2/3 Monthly Payments

Answer is $1467 Rounded

The monthly interest payment is $1,467.

Given that,

  • The loan amount is $200,000.
  • The rate of interest is 8.5%.
  • We need to find out the monthly interest payment.

Based on the above information, the calculation is as follows:

[tex]= (\$200,000 \times 8.5\%) \div 12[/tex]

= $1,467

Therefore we can conclude that the monthly interest payment is $1,467.

Learn more: brainly.com/question/13324776

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