Use the add-on method of calculating interest to find the total interest and the monthly payment. Length of Loan Amount of Loan $4500 5 years The total interest is $1,057.5 (Round to the nearest cent as needed.) The monthly payment is $ (Round to the nearest cent as needed.) Interest Rate 4.7%
Use the add-on method of calculating interest to find the total interest and the monthly payment. Length of Loan Amount of Loan $4500 5 years The total interest is $1,057.5 (Round to the nearest cent as needed.) The monthly payment is $ (Round to the nearest cent as needed.) Interest Rate 4.7%
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 18E
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