Miguel borrowed $825 for a new couch. He will make 9 monthly payments of $95 to repay the loan. How much will he pay in interest

Question

Dahasolnce [82]

3 years ago

5

Miguel borrowed $825 for a new couch. He will make 9 monthly payments of $95 to repay the loan. How much will he pay in interest

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Mathematics

1 answer:

Leona [35] · Answer 1 · 2022-07-23T19:49:58+03:00

Leona [35]3 years ago

3 0

Answer:

$30 is paid in interest.

Step-by-step explanation:

The couch costs $825 and Miguel will pay 9 * $95 = $855. So the amount of interest paid is how much in total was paid $855 minuse the cost of the couch $825, or $855-$825 = $30 in interest