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Suppose that you borrow $10,000 for five years at 7% toward the purchase of a car. Find the monthly payments and the total interest for the loan.
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Suppose that you borrow $10,000 for five years at 7% toward the purchase of a car. Find the monthly payments and the total interest for the loan.

User Ben Simpson
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1 Answer

5 votes
The payment would be $198.01 and the total interest would be $1,880.75. Pretty straightforward with a financial calc. I can show you the keystrokes if you want, just message.
User Kamran Shahid
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