Based on the amount that the individual is paying monthly, the total amount that will be paid over the full term of the loan is $150,900
How much will be paid in total?
The amount that the individual will pay in total over the loan's full term can be found to be:
= Amount paid per month x Number of years x number of months per year
Solving gives:
= 503 x 25 x 12
= 503 x 300
= $150,900
In conclusion the total amount paid is $150,900.
The rest of the question is:
What is the total amount paid over the full term of the loan?
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