<PRE><B>Question 569365</B>
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2.4% add-on means 2.4% added to the total indebtedness for each year of the loan.  *[tex \Large 42500\ \times\ 0.024\ \times\ 5\ =\ 5100] which is the total added on interest.  There are 60 months in 5 years, so:


*[tex \LARGE \ \ \ \ \ \ \ \ \ \ \frac{42500\ +\ 5100}{60}\ =\ 793.\overline{3}]


So $793.33 per month.


John
*[tex \LARGE e^{i\pi} + 1 = 0]
My calculator said it, I believe it, that settles it
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