Suppose that on January 1 you have a balance of $5800 on a credit card whose APR is

17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1.

a. Calculate your monthly payments.

b. When the card is paid off, how much will you have paid since January 1?

c. What percentage of your total payment from part (b) is interest?

(Do not round until the final answer. Then round to the nearest cent as needed)

home mortgage of $150,000 with a fixed APR of 3% for 30 years.

(Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

End of... Interest PaymentToward Principal New Principal

1Month ? ? ?

2month ? ? ?

3month ? ? ?

Consider a student loan of $20,000 at a fixed APR of 9 % for 25 years.

a. Calculate the monthly payment.

b. Determine the total amount paid over the term of the loan.

c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.

(Do not round until the final answer. Then round to the nearest cent asneeded)

Consider a home mortgage of $ 200,000 at a fixed APR of 6% for 25 years. Complete parts (a) through (c) below.

a . The monthly payment is?

b. Determine the total amount paid over the term of the loan.

c. Of the total amount paid, what percentage is for the principal and what percentage is for interest?

Of the total amount paid, ? is for the principal and ? is for interest.

(Do not round until the final answer. Then round to the nearest cent asneeded.)