Mathematics, 24.02.2021 03:30 ummitsjustjae

Pauline borrows a loan of $120,000 for 3 years at 11.5% simple interest. (a) calculate the total interest due on the loan. (b) if she is required to repay in monthly installments how much will she repay per month? (c) what is the banks profit as a percentage of the loan amount?

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Pauline borrows a loan of $120,000 for 3 years at 11.5% simple interest. (a) calculate the total int...

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Pauline borrows a loan of $120,000 for 3 years at 11.5% simple interest. (a) calculate the total interest due on the loan. (b) if she is required to repay in monthly installments how much will she repay per month? (c) what is the banks profit as a percentage of the loan amount?​

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Pauline borrows a loan of $120,000 for 3 years at 11.5% simple interest. (a) calculate the total interest due on the loan. (b) if she is required to repay in monthly installments how much will she repay per month? (c) what is the banks profit as a percentage of the loan amount?