Mathematics: Amount $100,000 rate 7% payments 360 $665.31 total interest $139,511.60 how much will be repaid for this loan? $ what percentage will be repaid for this loan? $ what will be the average amount per payment for interest? $

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Amount $100,000 rate 7% payments 360 $665.31 total - id1000007360665314490684, JustinLaucirica

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14.01.2022

1) Repaid for the loan = $239,511.60

2) Percentage = 58.2%

3) Average amount = $387.53

Step-by-step explanation:

Given :

Amount $100,000

Rate 7%

Payments 360 - $665.31

Total interest $139,511.60

To find :

1) How much will be repaid for this loan?

Repaid for the loan = Amount - Total interest

Repaid for the loan = 100,000 + 139,511.60

Repaid for the loan = $239,511.60

2) What percentage will be repaid for this loan?

$\text{Percentage}=\frac{\text{Total interest}}{\text{Repaid loan}}\times100$

$\text{Percentage}=\frac{139511.60}{239511.60}\times100$

$\text{Percentage}=0.582\times100$

$\text{Percentage}=58.2\%$

3) What will be the average amount per payment for interest?

$\text{Average amount}=\frac{\text{Total interest}}{\text{Payments}}$

$\text{Average amount}=\frac{\text{139511.60}}{\text{360}}$

$\text{Average amount}=387.53$

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