Use the add-on method of calculating interest to find the total interest and the monthly payment. Amount of Loan Length of Loan 18 months. $1050 Interest Rate 3.5% The total interest is $ (Type an integer or decimal rounded to the nearest cent as needed.) The monthly payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to the nearest cent as needed.)

Use the add-on method of calculating interest to find the total interest and the monthly payment. Amount of Loan Length of Loan 18 months. $1050 Interest Rate 3.5% The total interest is $ (Type an integer or decimal rounded to the nearest cent as needed.) The monthly payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to the nearest cent as needed.)

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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