Question

answer a through c

do not round until final answer to the nearest cent

Math 120 - Quantitative Reasoning Homework: 4D Homework Score: 0 of 1 pt 2 of 5 (4 complete) HW SE 4.D.21 E Consider a student loan of $12,500 at a fixed APR of 6% for 2 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is so (Do not round until the final answer. Then round to the nearest cent as needed.) Enter your answer in the answer box and then click Check Answer, 2 Clear All remaining parts Check Ans - Denuine o hp & 5 96 9 5 6 8 7 O Р - Y T R U

Answer 1

ANSWER:
o govern that : $ 12,500 P: P = 60 ts a year o. We know simple interest P xrxt (simple interest Total Amocent (A) = pts. I a) The morithly payment - t = tz as, 1 year old months 12500X6 Sol 100 62500 100 5 625 The monthly payment & & [625 b) for total canmount - t = 2yeary S. 12.500 X 6 X2 100 -150000 100 1500 3) 4 = p + som s 12500 + 1500 140.00 s

2 Total amount paid e Overe paid the Overe the tercy of the Loced= $14,000 Rolo of 44000 =12500 3 a % paid towards the particular A x 14000 100 - 12500 피 12500 1004 14000 x 508928571429 9 2589.9 9 pound of ou- goto] Yolo of 14000 = 1500 syado paid for interest 1500 X 100 14000 § 10.71 & Round off 11 opo