9 Questions
Based on the information provided, what is the total amount of money Mrs. Sanchez borrowed?
$90,000
What is the interest rate Mrs. Sanchez is being charged for the loan?
9.5%
How long will Mrs. Sanchez take to repay the loan?
5 years
According to the information provided, what is the total interest that Mrs. Sanchez will pay over the five years?
$9,750
What is the total amount that Mrs. Sanchez will have to repay at the end of the five years?
$110,000
How much will Mrs. Sanchez owe after the first year of borrowing?
$94,500
According to the information provided, what is the total interest that Mrs. Sanchez will pay on her loan?
$47,500.00
How much money will Mrs. Sanchez have to repay in total, including the interest?
$147,500.00
What is the monthly payment that Mrs. Sanchez will have to make to repay the loan in five years?
$1,859.64
Calculate the total interest Mrs. Sanchez will pay on her sailboat loan. Test your knowledge of interest calculations and compound interest formulas in this quiz.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
