Question

Prathibha borrowed 47000from a finance company to bu5 her first car The rate of simple interest 17%and she borrows the money over a5 year period .Find :(a)How much amount Prathibha should repay the finance company are the end of five year (b) her equal monthly repayments.
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Answer 1

Answer:

Explanation:

(a) The Total payments:$65,913.33

Total interest paid:$18,913.33

(b) Monthly payment:

$1,318.27