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Geography, 28.01.2021 02:30 danacoots

Interest and Total Payments on $10,000 Loan over Five Years
V
The bank would earn a profit of
v over
years if a customer was charged 15%
interest
A consumer would save
over the life of the
loan with a 5% interest rate rather than a 10% interest
rate
Interest
rate
Monthly
payment
Total paid
5%
$188.70
$11,322.00
10%
$212.50
$12.750.00
15%
$237.90
$14.274.00
18%
$253.90
$15,234.00


Interest and Total Payments on

$10,000 Loan over Five Years
V
The bank would earn a profit of
v o

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Answers: 2

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Interest and Total Payments on $10,000 Loan over Five Years
V
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