What is the monthly payment by add-on method

Reference no: EM131944654

Question: For the best terms on a loan or credit card, you need a credit score above 700. To achieve this, start establishing credit now. Pay all of your bills on time. In addition, use only one-third of your available credit limit and pay off your revolving balance(s) each month. R.J.Johnson has excellent credit. She wants to purchase a piece of equipment for her business and was offered 6% for 60 months for the $44,000 unit.

What is her monthly payment by add-on method? (Round your answer to the nearest cent.)

Reference no: EM131944654

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