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Inessa [10]
3 years ago
8

Aretha applies for a $3,600.00 loan at an APR of 12% in order to purchase a used car for transportation in college. If she makes

monthly payments of $118.50 for three years, what will be the total amount repaid ?
Mathematics
1 answer:
Paraphin [41]3 years ago
7 0
3 years = 36 months * $118.50 = $4,266

Without the tax, etc. the load should be paid off with 36 times $120 at an APR of 12%. So, there is some information missing from the question. If you really want to take the APR into consideration. Otherwise, it's simply 36*$118.50 
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