Please help me find b, part three TOTAL INTEREST! Some lenders offer fifteen-year home loans. Investigate the effect of the term on home loans by finding the monthly payment and total interest for a simple interest amortized loan of $100,000 at 10% if the term is the following period of time. (Round your answers to the nearest cent.) (a) twenty years payment total interest (b) ten years payment total interest $ 965.28 $ 131605.19 $ 1322.13 $ 58584.738 X

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Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.