Asaph took out a loan for $17,550. To pay it back, he will make 60 monthly payments of $437.

How much will Asaph pay in interest?

Question

Asaph took out a loan for $17,550. To pay it back, he will make 60 monthly payments of $437. 

How much will Asaph pay in interest?

anonymous · Answer

8670, 60 * 437 =  26220, 26220 - 17550 = 8670

anonymous · Answer

interest = rate x time ?

***[isuru]*** · Answer

the total amount that Asaph pays  = 437 *60
                                                  = 26220
the amount that Asaph took as loan = 17 550

the amount that Asap has pay as the interest = 26220 - 17550
                                                                  = 8670

got it :) ?

anonymous · Answer

Oh ok! makes sense