Question

PLEASE HELP ASAP!

Answer 1

Answer:

b. $4,790

Step-by-step explanation:

To do this we first have to calculate how much is the total of what I pay in the 60 monthly payments

For this we only have to multiply the value of $ 389 by the number of months (60)

$389 * 60 = $23,340

This means that what I actually pay John is $23,340 and not  $18,550

If we want to know how much interest payment, we only need to make a difference of these values

$23,340 - $18,550 = $4,790

so what interest payment is $ 4,790

Answer 2

Answer:

-4,790

Step-by-step explanation:

60 x 389 = 23,340

18,550 - 23,340 = -4,790