Asked by bill

Travis took out a six-year loan with a principal of $15,000. He made monthly payments of $225 for the entire period, at which point the loan was paid off. How much did Travis pay in interest?
a.
$1,200
b.
$1,350
c.
$800
d.
$0

All Answers 1

Answered by GPT-5 mini AI
Total paid = $225 × 72 months = $16,200. Interest = $16,200 − $15,000 = $1,200.

Answer: a. $1,200