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QUESTION

Part 1 I have a $83,000 loan with an APR of 3%, which I will be paid off with monthly payments of $460 for 20 years.

A. The amount that I borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount would be:

  1. The amount borrowed $83,000
  2. the annual rate is 3%
  3. the number of payments per year would be 12
  4. the loan term would be for 20 years the payment amount is $ 460

B. How many total payments does the loan require? What is the total amount paid over the full term of the loan?

There are ---? Payments towards the loan and the total amount paid is $----?

C. Of the total amount paid, what percentage will be paid towards the principle and what percentage is paid for interest?

the percentage paid towards the principle is ---% ?

and the percentage paid for interest is ---% ?

please help me to ROUND question C to the NEAREST TENTH

Part 2

I have two loans. The first loan is for $15,000 with an APR of 8% for 15 years and the second is for $ 10,000 with an APR of 9.5 % for 20 years.

Can you help me find the ---% that would be paid as well as the ----% paid towards the interest of both loans?

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