Mathematics, 22.05.2021 06:10 khanhlan7213
Jayden just graduated from college and owes $19,400 on his student loans. The
bank charges an annual interest rate of 1.5%, compounded monthly. If Jayden wants
to pay off his student loans using equal monthly payments over the next 15 years,
what would the monthly payment be, to the nearest dollar?
ā¦ā¦ā¦ā¦ā¦
M = pr / 1-(1+r)-n
M = the monthly payment
P= the amount owed
r = the interest rate per month
n = the number of payments
Answers: 1
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Jayden just graduated from college and owes $19,400 on his student loans. The
bank charges an annua...
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