You buy a car for 12000 on a simple interest loan at a rate of 6% for 5 years. You will be financing the amount of car and interest. What is your monthly payment

Monthly instalment = 260

Step-by-step explanation:

Below is the calculation of monthly instalment:

Price of the car, P = 12000

Simple interest, r = 6%

Number of years, t = 5 years

Interest amount = P x r x t

Interest amount = 12000 x 6% x 5

Interest amount = 12000 x 0.06 x 5

Interest amount = 3600

Total amount = 12000 + 3600

Total amount = 15600

Monthly instalment = 15600 / (5x12)

Monthly instalment = 260

answer: 1,380

step-by-step explanation:

1: you turn %15 into a decimal by moving the decimal point two places to the left.

2: and then you multiply .15 by 1,200 , which will get you 180.00

3: from there you will add 180 to 1,200

4: which will get you 1,380

hope it *im kind of slow so idk if my answer is right*

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