SOLUTION: Find the monthly payment for the loan. (Round your answer to the nearest cent.) $200 loan for 12 months at 11%

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Question 715096: Find the monthly payment for the loan. (Round your answer to the nearest cent.)
$200 loan for 12 months at 11%
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
I=200*0.11*1
I=22
--
222/12=$18.50