How do you find the Monthly Payment on a $100 Loan?
Loan Amount/Terms in Months/Annual % Rate:
With this information it asks for the Monthly Payment on a $100 loan, Monthly Payment, and Finance Charge, BUT I can't find the Monthly Payment or Finance charge without knowing how to find the Monthly Payment of a $100 Loan. Grrr. Frustrating.
It would be sweet if you knew the formula so I could study it. I don't need to straight answers because that won't do me any good for my test. Test is THIS Monday, so the sooner the better. THANKS!