Key Question #$13$

For each of the situations below, what is the total cost of loan and the amount of interest paid on each loan. $(10$ marks$)$

a$.$ $$4500$ loan for $3$ year with monthly payments of $$137\mathrm{.}92$

b$.$ $$9000$ loan for $2$ year with monthly payments of $$400\mathrm{.}92$

c$.$ $$6500$ loan for $2$ year with monthly payments of $$293\mathrm{.}98$

d$.$ $$22000$ loan for $4$ year with monthly payments of $$573\mathrm{.}96$

e$.$ $$15000$ loan for $5$ year with monthly payments of $$270\mathrm{.}87$