







Total payments for a loan 
20071011 

From Robin: A person is going to arrange a loan at 3 mill. he will pay 150000 back each year , so it
take 20 yrs. to finish. In addition he pays 5% interest of what is leaft each year.
How do I find the sumfunction which shows the total sum he have payed? Answered by Stephen La Rocque. 





Paying off a loan 
20070808 

From Iona: I borrowed $6000. 00 from a friend to pay school fee.
He said I should not pay back any interest but pay $350.00
monthly after graduation.
(1) Make an equation from the above
(2) make a graph
(3) what is the relationship between the months after graduation and the loan?
(4) what is the horizontal and vertical intercept relate to the problem? Answered by Stephen La Rocque. 





Monthly payments 
20010612 

From Anthony: This question is base on my interest. I would like to know the formula for calculating this example: If you borrow $10,000 from a bank with an APR of 11.7% to be paid off in 5 years, what is your monthly payment? Answered by Penny Nom. 





Compound Interest 
19990701 

From Kim Palmer: In early 1997, my son borrowed $4831 at 7.5%. He has made 30 monthly payments of $130 each. He is now in a position to pay off the balance. What is his remaining principal? Answered by Penny Nom. 

