1) Repaid for the loan = $239,511.60 Â
2) Percentage = 58.2%
3) Average amount = $387.53
Step-by-step explanation:
Given :
Amount $100,000 Â
Rate 7%
Payments 360 Â - $665.31
Total interest $139,511.60
To find :
1) How much will be repaid for this loan?
Repaid for the loan = Amount - Total interest Â
Repaid for the loan = 100,000 + 139,511.60
Repaid for the loan = $239,511.60 Â
2) What percentage will be repaid for this loan?
3) What will be the average amount per payment for interest?