Finding the monthly payment, total payment, and interest for a loan To help pay for college, Deon borrowed money from a bank. He took out a personal, amortized loan for $56,000, at an interest rate of 5.15%, with monthly payments for a term of 15 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 Deon's monthly payment. $0 (b) If Deon pays the monthly payment each month for the full term, find his total amount to repay the loan. $0 If Deon pays the monthly payment each month for the full term, find the total amount of interest he will pay. $0 X

Suppose that you borrow $15,000 for a new car. You can select one of the following loans, each requiring regular monthly payments: installment loan A: three year loan at 5.4% installment loan B: five year loan at 6.4% find the monthly payments and the total interest for both loan A and loan B. Compare the monthly payments and the total interest for the two loans.

You want to buy a car. The loan amount will be $32,000. The company is offering a 3% interest rate for 48 months (4 years). What will your monthly payments be?

Find the amount of simple interest on a loan of $3,500 at 9 1/2% interest for 14 years.