Question: MY NOTES ASK YOUR TEACHER PRACTICE AN 1. [3.75/5 Points) DETAILS PREVIOUS ANSWERS Assume that you take out a $2000 loan for 30 months at

 MY NOTES ASK YOUR TEACHER PRACTICE AN 1. [3.75/5 Points) DETAILS

MY NOTES ASK YOUR TEACHER PRACTICE AN 1. [3.75/5 Points) DETAILS PREVIOUS ANSWERS Assume that you take out a $2000 loan for 30 months at 8.5% APR. What is the monthly payment? (Round your answer to the nearest cent.) $7424 If you make the payment you just calculated every month for 30 onths, how much will you have paid altogether? $ 2.227 20 If you make the payment you just calculated every month for 30 months, what is the dollar amount of interest paid altogether? $ 227 20 If you make the payment you just calculated every month for 30 months, what is the percentage of interest paid altogether? Round the percentage to one decimal place. Show My Work

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!