jazzmineanderson8 jazzmineanderson8

03-06-2023
Mathematics

Answered

To help open up a restaurant, Linda borrowed money from a bank.
She took out a personal, amortized loan for $43,500, at an interest rate of 6.75%, with monthly payments for a term of 8 years.
For each part, do not round any intermediate computations and round your final answers to the nearest cent.
If necessary, refer to the list of financial formulas.
(a) Find Linda's monthly payment.
(b) If Linda pays the monthly payment each month for the full term,
find her total amount to repay the loan.
(c) If Linda pays the monthly payment each month for the full term,
find the total amount of interest she will pay.

Answer :

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