Please help! Loki's home repairs will cost him $1,200. The bank will give him a loan for the full amount at an interest rate of 21%. The bank expects a payment of $121 every month for 12 monthsHow much interest will Loki have paid when the loan balance is $0?
Question
Answer:
$1,200=to repair his home21%=interest
$121=every month
12=month
21. X
ββ= βββ-
100. 1200
Cross multiply
21*1200=25200
100*x=100x
25200/100=252
So Loki paid $252 interest
solved
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10 months ago
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