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Julie asks you for a loan of $1200. she promises to pay everything back with interest in 2 years, and you decide that the highest interest you can charge a friend is probably 5%. how much do you ask julie to pay you each month in order for her to have the loan paid off in 2 years? round to the nearest two decimal places.

Respuesta :

1 year = 12 months
$1200/2 years
$1200/ 24 months
$50/1 month
add the interest which would be 5% of 50
50×0.05=2.5
50+2.5=52.5
She would pay you $52.50 per month

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