The disposable income from my part-time job in 2021 was $12,000. In 2020, I borrowed $580 at 15 percent interest. I repaid my loan with interest in 2021. How much would I have available for spending in 2021? please help
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The disposable income from my part-time job in 2021 was $12,000. In 2020, I borrowed $580 at 15 percent interest. I repaid my loan with interest in 2021. How much would I have available for spending in 2021? please help
Funds available for spending = Disposable income - loan*(1+interest rate)
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