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  3. nichele has a 5300,000 loan to be paid back with 4

Nichele has a 5300,000 loan to be paid back with 4.508% interest over 15 years....

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Accounting

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Nichele has a 5300,000 loan to be paid back with 4.508% interest over 15 years. What are Michele's monthly payments? How much in total does Michele pay to the bank? How much interest does Nichele pay? Comparing Michele and Manuel's interest, how much more does Manuel pay over the lifetime of the loan? (As you can see, that 15 year loan can really save you alot of money - but the monthly payments are over 5700 per month higher...)

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