Question: Please answe.r Problem 2 You buy items costing $800 and finance the cost with a simple interest fixed installment loan. You finance the cost for

Please answe.r

Problem 2 You buy items costing $800 and finance the cost with a simple interest fixed installment loan. You finance the cost for 30 months at 7% simple interest per year, a. What is the finance charge? b. What is your monthly payment? 16B You plan to purchase a house for $430,000 and you will make a 20% down payment. You will finance the balance with a 30-year fixed mortgage at 2.75%. a. What will the monthly payment be? b. Assuming you take the full term of the mortgage, how much total interest will you have paid

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