document.write( "Question 1147648: Troy juth wants to purchase new dive equipment for underwater connection. His retail store in colorado springs. He was offered a $45,000 loan at 3% for 60 months. What is his monthly payment by formula? ( round your answer to mearest cent) \n" ); document.write( "
Algebra.Com's Answer #769002 by MathTherapy(10558)\"\" \"About 
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\n" ); document.write( "Troy juth wants to purchase new dive equipment for underwater connection. His retail store in colorado springs. He was offered a $45,000 loan at 3% for 60 months. What is his monthly payment by formula? ( round your answer to mearest cent)
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As far as I know, loans that're extended are usually subjected to COMPOUND INTEREST, not simple interest.
\n" ); document.write( "Correct monthly payment: \"highlight_green%28%22%24808.59%22%29\" \n" ); document.write( "
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