The following loan is a simple interest amortized loan with monthly payments.$155,000, 9-9-%, 30 years2(a) Find the monthly payment. (Give your answer to the nearest cent.)Payment $(b) Find the total.interest for the given simple interest amortized loan. (Give your answer to the nearest cent.)Total interest |Enter a number.

Given, The loan amount is $155,000 Number of years (t) is 30 years Rate of interest is 9.5%

The following loan is a simple interest amortized loan with monthly payments. $155,000, 9%, 30 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ X (b) Find the total.interest.for.the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest:

The following loan is a simple interest amortized loan with monthly payments. $155,000, 9%, 30 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ X (b) Find the total.interest.for.the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest:

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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