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Raymond borrowed $3,000.00 from Loans R Us Company. The line of credit agreement provided for repayment of the loan in equal monthly payments of $668.76

Raymond borrowed $3,000.00 from Loans R Us Company. The line of credit agreement provided for repayment of the loan in equal monthly payments of $668.76 which includes interest of 9.00 % per annum calculated on the unpaid balance.

a. What is the monthly rate of interest?

b. Construct a blended payment repayment schedule

c What are the total interest charges?

d. How many payments are required to pay off the loan

e. What is the final Payment

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