What would the monthly payment be for a $5,000 loan with a 6.25% interest rate compounded monthly spread over 60 months? a. $25.31 b. $97.25 c. $217.00 d. $320.95

Option b - $97.25

Step-by-step explanation:

Given : A $5,000 loan with a 6.25% interest rate compounded monthly spread over 60 months

To find : What would the monthly payment ?

Solution :

Formula of monthly payment

Discount factor

Where, Amount = $5000

Rate r= 6.25%=0.0625

Time = n=60 months

Now, put all the values we get,

Monthly payment,

Approximately The monthly payment is $97.25.

Therefore, Option b is correct.

d. millimeters per hour.

step-by-step explanation:

we are given that,

carlo used a rain gauge to measure the amount of water his lawn is receiving from the sprinklers.

since, according to the options, we see that,

water cannot be measured by 'miles per hour', 'meters per second' and 'grams per seconds'.

we get that, the water can be measured by 'millimeters per hour'.

hence, the appropriate rate for describing the amount of water is 'millimeters per hour'.

the answers are in the images, i received 100% on this assignment. hope this !