Question

What is the total payment for an $8,720 loan at 12.5 percent for 15 years?

Answer 1

The total payment in what of that in simple interest will be solved by multiplying all three numbers and then the answer you get, add it to the principle.
16350+8720=$25070. 00 as your total payment.

Answer 2

8720*12,5/100*15=16406,25 $

8720+16406,25= 25 126,25 $