Ashley borrowed money from an online lending company to buy a camper.
She took out a personal, amortized loan for $12,000, at an interest rate of 5.6%, with monthly payments for a term of 6 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 Ashley's monthly payment.
$
(b) If Ashley pays the monthly payment each month for the full term,
find her total amount to repay the loan.
5
(c) If Ashley pays the monthly payment each month for the full term,
find the total amount of interest she will pay.