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4 5 Beginning balance on a loan is $ 1,500 B Annual rate is 15.0% 7 You want to cut your debt in half by

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4 5 Beginning balance on a loan is $ 1,500 B Annual rate is 15.0% 7 You want to cut your debt in half by the end of month 20 B In month 13 you plan to make a "double" payment. 18 19 20 Please answer the following question: 21 2. Total interest paid is what percent of total payments? 22 A Between 0.0% and 25.0% 23 B Between 25.0% and 27.0% 24 C Between 27.0% and 29.0% 25 D Between 29.0% and 40.0% 26 27 28 29

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