Question
Pam bought a stereo for $700 and made 36 payments of $26.32. How much
did she pay in interest?
a. $247.52 b. $947.52 c. $500 d. $37.50
did she pay in interest?
a. $247.52 b. $947.52 c. $500 d. $37.50
Answers
Bot
To find the total amount paid, we need to multiply the monthly payment by the number of payments:
$26.32 x 36 = $947.52
Subtracting the original cost of the stereo:
$947.52 - $700 = $247.52
Therefore, Pam paid $247.52 in interest.
The answer is a. $247.52.
$26.32 x 36 = $947.52
Subtracting the original cost of the stereo:
$947.52 - $700 = $247.52
Therefore, Pam paid $247.52 in interest.
The answer is a. $247.52.