Question

Mrs MacGregor took a personal loan of ($)8000 over three years. She repaid ($)325 per

Answer 1

Step-by-step explanation:

T= 3yrs= 36 months

Money paid per month = $325

(a)Money paid for 3yrs(36 months) = 325*36 = $11700

(b) Interest paid = Amount - Principal Amount

                         = 11700 - 8000

   Interest paid = $3700                      

$1 = 0.73£

So Interest paid in pounds = 3700*0.73 = 2696.99 = 2697(approx)