Math Models U7 L3 | Installment Loans (A Guide to Borrowing Smart)
Автор: Ellington Math
Загружено: 2026-01-15
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In Unit 7, Lesson 3, we explore installment loans, which are loans repaid over time with fixed monthly payments.
This lesson helps you understand how installment loans work, how interest affects the total cost, and why the length of a loan matters just as much as the interest rate.
📌 What you’ll learn in this video:
What installment loans are
How monthly payments are calculated
How loan length affects total cost
The role of interest in long-term borrowing
How to compare loan options mathematically
🧮 Calculator Notes
You’ll use your calculator to:
compute interest
compare loan totals
analyze payment scenarios
👩🏫 For Math Models Students
This video supports Math Models – Unit 7, Lesson 3.
📎 Smart borrower rule:
Lower monthly payments often mean higher total cost.
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