Kevin gets an auto loan of $12,000 at 6% annual interest. The terms of his loan state that he has to pay $281.82 each month for 4 years. How much total interest will he have to pay?

A $288

B $720

C $1527.36

D $3381.34

Question

Kevin gets an auto loan of $12,000 at 6% annual interest. The terms of his loan state that he has to pay $281.82 each month for 4 years. How much total interest will he have to pay?

A  $288
		
B   $720
		
C   $1527.36
		
D    $3381.34

anonymous · Answer

HELPPPP

anonymous · Answer

He has to pay $281.82 per month, and there are 4*12=48 months in 4 years. So what is the total cost?