Molly takes out an $11,000 personal loan to make home repairs. Her interest rate is 6.4% on

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Molly takes out an $11,000 personal loan to make home repairs. Her interest rate is 6.4% on a 4-year loan. Her monthly payments are $260.36. What is the total payback amount and how much of that is interest?

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: May 02, 2023 03:23 AM

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Molly takes out an $11,000 personal loan to make home repairs. Her interest rate is 6.4% on

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To find the total payback amount and the amount of interest we can use the formula for the ... View the full answer

Income Tax Fundamentals 2013

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