What is the monthly payment for a 10 year 20,000 loan at 4.625% apr what is the total interest paid of this loan

rate = 4.625 / 1,200 = 0.0038541667

Payment = 0.0038541667 + (0.0038541667 / [1 + 0.0038541667]^120] -1) * 20,000

Payment = [0.0038541667 + [0.0038541667 / (1.5866279967 -1)] * 20,000

Payment = [0.0038541667 + [0.0038541667 / 0.5866279967] * 20,000

Payment = [0.0038541667 + 0.0065700353] * 20,000

Payment = 0.010424202 * 20,000

Payment = 208.48 per month

Total paid for loan = 208.48 * 120 months

Total paid for loan = 25,018.08

Amount Borrowed = 20,000 so, total interest

5,018.18

Source: http://www.1728.org/loanform.htm

And yes, it's just that "simple" LOL

Step-by-step explanation:

a complex number is a number that can be expressed in the form a + bi, where a and b are real numbers, and i is a solution of the equation x2 = −1. because no real number satisfies this equation, i is called an imaginary number. has no real solution, since the square of a real number cannot be negative.

well kind of. you get friend requests. and you can accept them or not so yes.

step-by-step explanation: