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Kelsey wants to buy the nicest bathtub she can afford, so she goes to the bank and gets an 8-year amortized loan to pay for it. The account has a 3% annual rate. Kelsey knows she can afford $70 monthly payments. What would be the principal and total interest of the loan? Principal _________________ Total Interest _________________.

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Kelsey wants to buy the nicest bathtub she can afford, so she goes to the bank and gets an 8-year amortized loan to pay for it. The account has a 3% annual rate. Kelsey knows she can afford $70 monthly payments. What would be the principal and total interest of the loan? Principal _________________ Total Interest _________________

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