loan repayments (1 Viewer)

[johnle95]

hey guys, how would u do this question?
I keep on getting M as 750

David borrows $5000 from the bank and pays back the loan in monthly instalments over 4 years. If the loan incurs interest of 15% p.a., find the amount of
each instalment.

 

[asianese]

Is the answer $139.15?

 

[Peeik]

Is the answer $139.15?

That's what I got as well. It should be right...

 

[asianese]