What Would Be the Monthly Payment on an Add-On Loan

question 113

Short Answer

What would be the monthly payment on an add-on loan from a credit union at 5% over 36 months for the principal of $2000? Round to nearest cents.

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Definitions:

Stimulant

A type of drug that increases activity in the nervous system, leading to increased alertness, attention, and energy.

Euphoria

A state of intense happiness and self-confidence, sometimes artificially induced by the use of drugs or when experiencing certain psychological states.

Recreational Drug

Substances taken for enjoyment, rather than for medical reasons, which can alter perceptions, feelings, or consciousness.

Psychological Dependence

A form of dependence characterized by emotional–mental cravings for a substance or behavior, often in the absence of physical dependency.