3 years ago

Based on the information below, choose the correct answers.

1 answer:

8 0

Since there are 120 payment and the total interest paid was $ 14,644.95. so the average monthly interest can be calculated by:

Average monthly interest = $ 14,644.95 / 120

Average monthly interest = $ 122.04

% total interest = ($ 14,644.95) / $ 39,644.95 x 100

% total interest =36.94 %

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