SOLUTION: Bob and Sue took out a 60 month loan at 2.80% on a 2015 Infinity QX60 all wheel drive. The MSR is set at the managers suggested retail price.: What will the simple interest and ma

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Question 974225: Bob and Sue took out a 60 month loan at 2.80% on a 2015 Infinity QX60 all wheel drive. The MSR is set at the managers suggested retail price.: What will the simple interest and maturity value be? Apply the I=Prt formula
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
MSR(.028)(5)
0.14*MSR is the simple interest value after 5 years.
If the MSR has a number, that would be substituted in.