Sum of $12000 from a financing company for 3 years at 15% per annum. What is the total interest he paid in 3 years
2 answers:
So there are many factors to this, but lets assume the basics:
-He made equal payments every month for 36 months
assuming that is true, the answer is $2,975.42
Assuming that is NOT true and he made NO monthly payments at all and at the end paid the entire balance, the interest would be $6,250.50
The answer to this question would be
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I hope you understand and best wishes!!
