Question

Lavonda took out $65,000 loan with an APR of 15.78%. She plans o pay it back over 10 years.

What is her monthly payment ?
What is the total amount of the monthly payments?
What is the finance charge ?

Answer 1

I think you do the formula I=prt which stands for interest, principal, rate then time.

So you set it up as I= (65,000) (15.78%) (10 years)= $102,570.

I know this answers a part of one of your questions, but I am not sure which one. Sorry. :<

I hope this helps, and I hope you have a good day. c;