Corey obtained an installment loan of $1,000. The APR is 12%. He must repay the loan in 12 months. How do I find the monthly payment

The monthly loan payment will be $ 93.33.

Explanation:

Given that Corey obtained an installment loan of $ 1,000, and the APR is 12%, and I must repay the loan in 12 months, to determine how do I find the monthly payment, the following calculation must be performed:

(1000 x 1.12) / 12 = X

1120/12 = X

93,333 = X

Therefore, the monthly loan payment will be $ 93.33.

the answer is i don't know

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.