The principal on Jan’s loan was $4,700, but by the time she had paid it off after four years, the interest and principal totaled $5,388. If Jan made regular quarterly payments of $355 until the loan was paid off, how much did Jan pay for service charges?

Question

amistre64 · Answer

4*3 = 12 payments of 355

what is 12*355, and how does it compare to the 5388 paid for the rest of it?

amistre64 · Answer

err,  4 times a year for 4 years ... 16 payments

anonymous · Answer

thanks

amistre64 · Answer

yep