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Using the information below, choose the correct answers.


Amount: $125,000 Rate: 8 % Payments: 360 @ $917.19 Total Interest: $205,188.40


How much will be repaid for this loan? $

What percentage of this total is total interest (to the nearest tenth)?

What will be the average amount per payment for interest? $

Verified Answer :

Aliwohaish12

125,000+205,188.40=330,188.4
205,188.4÷330,188.4=0.621*100=62.1%
917.19×0.621=569.57

Answer:

1) $330188.4

2) 62.14%

3) $569.97

Step-by-step explanation:

1) Total amount which will be repaid = Amount+Total interest

                                                          = 125000+205188.4

                                                          = $330188.4

2) Let the percentage of total that is interest be x

Then x%×330188.4 = 205188.4

                            x = 62.14%

Percentage of total that is interest = 62.14$

3) Average amount per payment for interest =\(\frac{ Total interest}{No. of payments}\)

                                                   = \(\frac{205188.4}{360}\)

                                                   = $569.97


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