The amount Jerry paid in interest is $1,040.
The given details are:
Jerry's principal amount = $ 22,000,
quarterly payment for each quarter = $ 640
Total time for which Jerry paid each quarter = 9 years
As we know, one-year consists of nine quarters and therefore the nine years will consist of 36 quarters.
Thus, the total amount paid by Jerry for nine years in each quarter is $23,040.
Therefore, the correct option is b.
To know more about the calculation of the interest, refer to the link below:
brainly.com/question/16242041
Answer:
Attached is the solution:
It was good, I just despise homework
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