How much will you finance?

10000

• Calculate how much you will owe the loan company if you finance the full amount of attending UVU over 5 years, 10 years and 15 years.Show all of your math and explain your answer.

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How much interest will you pay for a 5-year, 10-year and 15-year loan? Show all of your math and explain your answer.

4.66%

• Calculate your monthly payment for a 5-year loan, a 10-year loan and a 15-year loan.Show all of your math and explain your answer.
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• Summarize your calculations in this table:

APR = 2.95%	5-year loan	10-year loan	15-year loan
Amount Financed	10000	10000	1000
Amount of Interest	1230	2529	3918
Total Amount Owed	11230	12529	13918
Monthly Payment	187	104	77