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Find the monthly payment and total interest for a simple interest amortized loan with $5000, 9.5% interest, for four years. A family have a ten-year-old
Find the monthly payment and total interest for a simple interest amortized loan with $5000, 9.5% interest, for four years. A family have a ten-year-old loan for $187,900 with which they purchased their house. They just sold their profitable business, and are considering paying off their home. Their loan is a thirty-year simple interest amortized loan at 10.5% interest and has no prepayment penalty. If their monthly payment is $1718.80, find the unpaid balance of the loan
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