Sarah L.

asked • 01/16/21

Sam borrows $28 000 to buy a new car at a flat interest rate of 9% per annum over 3 years.

How much will sam need to budget per week to cover the cost of the loan repayments?

1 Expert Answer


Julie P.

I think you just mistyped 9%=.08 but the math calcuation of 28000*.08*3 is really using .09 so the answer is correct


Sarah L.

Thank you so much. As i was trying to do it, my answer was $227.94 ? Not sure how but when i equaled it, it was $227.94. 35560/(52•3)=$227.94 ?


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