Question

Using the information below, choose the correct answers.

Answer 1

To find how much will be repaid for this loan, you just multiply the amount of payment by the number of payments
774.5×360=278,820

To find the percentage of this total is total interest, you just divide the total interest by the amount repaid
(78,820÷278,820)×100=28.27%

To find the average amount per payment for interest, you divide the amount of total interest by the number of payments
78,820÷360=218.94

Hope it helps!