Question
Pam bought a stereo for $700 and made 36 payments of $26.32. How much
did she pay in interest?
did she pay in interest?
Answers
GPT 3.5
To find out how much Pam paid in interest, we first need to calculate the total amount she paid over the 36 payments.
Total amount paid = 36 payments x $26.32 = $947.52
Now we need to subtract the cost of the stereo to find out how much she paid in interest.
Interest paid = Total amount paid - Cost of stereo
Interest paid = $947.52 - $700
Interest paid = $247.52
Therefore, Pam paid a total of $247.52 in interest over the course of her payments.
Total amount paid = 36 payments x $26.32 = $947.52
Now we need to subtract the cost of the stereo to find out how much she paid in interest.
Interest paid = Total amount paid - Cost of stereo
Interest paid = $947.52 - $700
Interest paid = $247.52
Therefore, Pam paid a total of $247.52 in interest over the course of her payments.