tom's total payment for his loan was $15,264. he paid it off after making 72 monthly payments. what was his monthly payment ? a. $212 b. $228 c. $236 d. $242

A. $212

Explanation:

We are given that the total loan value was $15,264

Tom paid this value on 72 monthly payments.

Assuming that all monthly payments are equal, i.e he paid the same amount each month, we can proceed as follows:

Now, we have $15,264 paid over 72 months. To get the monthly payment, we will simply divide the total amount by the number of months as follows:

monthly payment = = $212

Hope this helps :)