Donna borrowed money from an online lending company to buy a fishing boat. She took out a personal, amortized loan for $11.500, at an interest rate of 4.45%, 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 Donna's monthly payment.
X
?
s0
(b) If Donna pays the monthly payment each month for the full term,
find her total amount to repay the loan.
sil
(c) If Donna pays the monthly payment each month for the full term,
find the total amount of interest she will pay.