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Sam owns $12,000 in loans for college , the interest rate is 8.25% and the loan will be paid off over 6 years . How much will he pay altogether?

Sam owns $12,000 in loans for college , the interest rate is 8.25% and the loan will be paid off over 6 years . How much will he pay altogether?
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sam owns $12,000 in loans for college , the interest rate is 8.25% and the loan will be paid off over 6 years . How much will he pay altogether?

asked
User Ali Saeed
by
7.9k points

1 Answer

1 vote

Answer:

If the interest rate is 8.25% each month then it would be $193,440 in total.

answered
User Bartosz Milewski
by
8.7k points
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