Find the amount of interest owed for a $1,895 loan for 4 years at a 7.9% interest rate.
1 answer:
Answer: The amount of interest owed is $598.82.
Step-by-step explanation: 7.9% of $1,895 is 149.705. So, 149.705 x 4 years would be $598.82 for 4 years.
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The more payments you pay, the less money you owe.
