Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $8,000 installment loan to be repaid in 6…

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asked May 19, 2024 135k views

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Christopher DuBois · Answer 1 · 2024-05-24T23:32:20+0000

Answer:

The result is approximately $1,680. So the total interest paid on the $8,000 installment loan, repaid over 60 monthly installments of $178.00, would be $1,680.

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Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $8,000 installment loan to be repaid in 6…

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