I figured out question one but i cant figure out questions two and three I dont understand what to do there. How would you go about figuring out those two questions?
1) Q: For minimum payments:
a) What was the number of months? 342
b) What was the interest you will pay? 14,423
2) Q: For doubling the payments:
a) What was the number of months?
b) What was the interest you will pay?
3) Q: What was the difference between minimum and doubling the payments:
a) Difference in the number of months?
b) Difference in the interest you pay?
1) Q: For minimum payments:
a) What was the number of months? 342
b) What was the interest you will pay? 14,423
2) Q: For doubling the payments:
a) What was the number of months?
b) What was the interest you will pay?
3) Q: What was the difference between minimum and doubling the payments:
a) Difference in the number of months?
b) Difference in the interest you pay?