Problembecky lewis financed the construction of a garage on, Ask an Expert

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Problem:

Becky Lewis financed the construction of a garage on her lot with 9.3% add-on interest home improvement loan from the Guaranteed Savings Bank. The total price of the garage was $11,860 and was financed with equal monthly payments for 6 years.

Required:

Question: How much are the monthly payments on the loan?

Note: Solve the problem and show all work.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174820

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