Question

khadafi is borrowing $5,000 at an annual rate of 7% for a term of 4 years (48 months). what is the amount he will pay at the end of 4 years?
match the terms to the correct components.
principal
\ta. $5,000
total interest to be paid
\tb. $133.33
\tc. $1,400
\tb. monthly payment
\td. $6,400
total amount repaid

Explanation:

Answer:

principal - a. $\$5,000$
total interest to be paid - c. $\$1,400$
monthly payment - b. $\$133.33$
total amount repaid - d. $\$6,400$