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Herman took out a loan for $8,500 at a rate of 8% for a term of 10 years. How much interest will he pay on the loan?

Herman took out a loan for $8,500 at a rate of 8% for a term of 10 years. How much interest will he pay on the loan?
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Herman took out a loan for $8,500 at a rate of 8% for a term of 10 years. How much interest will he pay on the loan?

asked
User ColaFanta
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7.9k points

1 Answer

3 votes

Answer:

Monthly loan payment is $400.76 for 60 payments at 7.5%.

Explanation:

answered
User Anton
by
8.4k points
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