Math question?please help thank u?

Question

please help with this math question

the amount of a loan was 15,395.the monthly payments over 3 years (with no interest)after rounding to the penny would be:

a)$427.64

b)427.63

c)427.60

d)427.00

please help thank u and if u can please explain how you got the answer thank u

Answer 1

12 months in a year x 3 years = 36 months

15395/36 = 427.6388888...or 427.64 when rounded

Because there is no interest on this loan, you would just divide the loan amount by the number of months you would be paying it for.  

According to rounding rules, 427.638888...would be 427.64, so your answer is a)$427.64.

Answer 2

Well, if you are going to pay the same every month for three years, how many months will you make payments?

Right! 36 months.

15,395 / 36 = 427.6388888888888

Now, round that tp the penny, and you have 427.64

so the answer is a)

HTH

Charles