3.Loan Payment and Interest

What is the monthly payment for a $3,200 five-year loan with an APR of 9%?

Cecilia bought a new car. The total amount she needs to borrow is $29,541. She plans to take out a 4-year loan at an APR of 6.3%. What is the monthly payment?

Jeanne has a $14,800, 3-year loan with an APR of 8.56%. What is the principle?

Claire needs to borrow $12,000 from a local bank. She plans to take out a 6.5 year loan at an APR of 6.3%. What will be the exponent in the formula?

Dean wants to take out a loan for $5,525 at an APR of 12% for 36 months. What will his monthly payment be?

Danny took out a loan of $3,200 at an APR of 15% for 6 months. What is the exponent in the formula?

Manuel took out a loan for $3,500 at an APR of 8% for 60 months. What is his monthly payment?

Mia borrows $66,000 for four years at an APR of 7.25%. How much will she be paying in interest?

Seth financed a purchase of a used car for $36,750. He has a 6.5 year loan at a 4.125% annual interest rate with monthly payments of $537.94. How much will he pay in interest?

Solomon is taking out a $15,320, 3.5-year loan with an APR of 5.29%. What will be the total interest on this loan?