Amortization Trial

• Nothing, she did it right.
• She calculated how much the interest and principal was combined.
• She calculated the amount for the duration of the loan as though no payments were made.
• She should have used 0.52 not 0.052.

What will her monthly payment be?

Fill out the amortization table below for Rebecca’s loan. Turn this in.

JD is serving tables at Denny’s and receives a payment of $123.45, which is the original bill plus an 18% tip. What was the original bill?

• $104.61
• $104.62
• $104.60
• $101.22
• $101.23

Tags

CCSS.7.RP.A.3

The average student loan debt for a public university is $38,000. The average interest rate is 6.63% interest. If you borrowed $38,000 at the 6.63% monthly interest for 30 years, what would your monthly payments be?