principle amount $36,000.00

Annual interest rate 6.60%

periods per year 12

total number of payments 60

questions ?

1. percentage rate per period?
2. what is your monthly payment?
3. what is the total amount of payments made over the life of the loan?

part 2

principle amount 630,000.00

annual interest rate 5.20%

periods per year 12

total number of payments 12

extra payments per month $288.28

questions ?

1. what is the percentage rate per period ?
2. what is your monthly payment?
3. what is the total $ amount of payments made over the life of the loan?
4. how many months will it take to pay off the loan if you pay an extra $288.28 per month?