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  3. suppose a man took out a 30 year loan with an annu

Suppose a man took out a 30 year loan with an annual rate of 9...

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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

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