Question

1. Click “Show Amortization Table,” which shows how each one of Molly’s payments is being applied to her principal and interest. How much total interest will Molly pay using this plan? 

Answer 1

Loan amount needed= $25495-$2500-$500= $22495

Amortization schedule (interest @ 1.9% APR, 84 months repayment)

Total interest= $1546.87