Susan took out a personal loan for $3,500 at an interest rate of 13% compounded monthly. she made arrangements to pay the loan off in 3 years. what will her monthly payment be?
a. $99.34
b. $105.32
c. $117.93
d. $156.60 please select the best answer from the choices provided a b c d

Plug the numbers into the formula to get the monthly payment amount. Compounding interest is interested that stacks on top of each other in each month going forward. The interest accrues monthly and is added to the principal payment amount that Susan is making.

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Susan took out a personal loan for $3,500 at an interest rate of 13% compounded monthly. she made arrangements to pay the loan off in 3 years. what will her monthly payment be? a. $99.34 b. $105.32 c. $117.93 d. $156.60 please select the best answer from the choices provided a b c d

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Susan took out a personal loan for $3,500 at an interest rate of 13% compounded monthly. she made arrangements to pay the loan off in 3 years. what will her monthly payment be?
a. $99.34
b. $105.32
c. $117.93
d. $156.60 please select the best answer from the choices provided a b c d