trevor will makes payment of $425 per month for 5 years on a loan of 22388....

Question

Question

trevor will makes payment of $425 per month for 5 years on a loan of 22388. how much interest will he pay over the life of the loan?

business finance

Answer 1

Answer #1

TOTAL PAYMENT FOR 5 YEARS = 425 PER MONTH X 12 MONTH X 5 YEARS = 25500

TOTAL INTEREST PAID = TOTAL PAYMENT - LOAN AMOUNT = 25500 - 22388 = 3112

ANSWER : $3112 (Thumbs up please)

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Answer 2

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