Mathematics, 10.12.2021 05:30 josephfoxworth

To help open up a restaurant, Juan borrowed money from an online lending company. He took out a personal, amortized loan for $47,000 , at an interest rate of 6.15% , with monthly payments for a term of 8 years.

For each part, do not round any intermediate computations and round your final answers to the nearest cent.
If necessary, refer to the list of financial formulas.
(a) Find Juan's monthly payment.

(b) If Juan pays the monthly payment each month for the full term, find his total amount to repay the loan.
(c) If Juan pays the monthly payment each month for the full term, find the total amount of interest he will pay

Answers: 3

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To help open up a restaurant, Juan borrowed money from an online lending company. He took out a pe...