Question

Kacie has a balance of $10,000 on a loan with an annual interest rate of 8%. To pay off the $10,000 in four years, Kacie will have to make a minimum payment is $244.13 per month. How much will kacie pay in interest over the four year period?
A.) $1.088.20
B.) $1,718.24
C.) $2,971.99
D.) $11,718.24

Answer 1

Kacie has a balance of $10,000 on a loan with an annual interest rate of 8%. To pay off the $10,000 in four years, Kacie will have to make a minimum payment is $244.13 per month. How much will kacie pay in interest over the four year period?

A.) $1.088.20

B.) $1,718.24

C.) $2,971.99

D.) $11,718.24