Suppose a man took out a 30 year loan with an annual rate of

Last updated: 6/23/2023

Suppose a man took out a 30 year loan with an annual rate of 9 to put an addition on his house His banker encouraged him to put other expenses into the loan if he wished so he increased the loan in order to purchase furniture a new car and a computer Suppose the computer cost 1 100 Assume that the loan is an add on loan to calculate parts a and b a What was the amount of interest that he paid on the computer part of his loan b What was the total cost of his computer a The total interest is Simplify your answer