Hunter took out a $3500 loan with interest to pay for some business supplies. He will repay The loan and three years with monthl
y payments of $109.68. What is the total amount of interest hundred will pay? ( there's no answer choices)
1 answer:
Answer: $448.48
Step-by-step explanation:
The amount Hunter will pay in total is;
= 109.68 * 12 months * 3 years
= $3,948.48
Interest he will pay = Amount paid - Loan amount
= 3,948.48 - 3,500
= $448.48
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