Consider a student loan of $17,500 at a fixed APR of 6% for 15 years. a) calculate the monthly payment b) determine the total am

Question

Consider a student loan of $17,500 at a fixed APR of 6% for 15 years.
a) calculate the monthly payment
b) determine the total amount paid over over the term of the loan.
c) of the total amount paid, what percentage is paid toward the principal and what percentage is paid for the interest.

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Khánh Gia 5 years 2021-08-01T23:58:06+00:00 1 Answers 38 views 1

Answers ( )

  1. thanhcong
    0
    2021-08-01T23:59:35+00:00
    Reply

    Answer:

    A. $147.67

    B. $26,581.49

    C.  Principal: 65.8352%

    C.  Interest: 34.1647%

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