# Figuring out the total amount of money paid on a loan?

Answers:0 | LastUpdateAt:2012-10-13 14:47:07

The question is : MedlinePlus
You have a car loan of $ 20,000 at a rate of 6% per annum , compounded monthly , for 5 years. MedlinePlus
MedlinePlus
I figured the monthly payments by $ 1056.563691 ( not rounded , obviously) MedlinePlus
MedlinePlus
I have no idea how to determine the total amount of money paid , can someone help ? MedlinePlus
MedlinePlus
Also, how do you find the total amount of interest paid ?

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