Gabriella needs to buy speakers for her concert venue. She borrows $2,400 and must pay the money back in equal amounts for 12 months. She must also pay $10 interest each month. What is her monthly payment, including interest?
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Answer: 10$
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Given : Gabriella needs to buy speakers for her concert venue.
She borrows $2,400 and must pay the money back in equal amounts for 12 months.
She must also pay $10 interest each month.
To Find : her monthly payment, including interest
Solution:
Amount borrowed = $ 2400
Months = 12
Amount per month = 2400/12 = 200 $
interest per month = $ 10
Monthly payment, including interest = 200 + 10 = 210 $
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