Answer:
The amount Asaph pay in interest= $ 8670
Step-by-step explanation:
The amount of interest one pay in interest is equal to the total amount he has paid minus the amount of loan he took.
Since, the interest is the extra amount charged by a person or by an organisation from someone who takes a loan.
It is given that:
Asaph took out a loan for $17,550.
To pay it back, he will make 60 monthly payments of $437.
Total amount he pays= $ (437×60)=$ 26220.
Hence, the amount Asaph pay in interest= $ 26220-$ 17550
= $ 8670
