Suppose you see a car with an advertised price of $15,700 at $420.83 per month for 4 years. What is the amount of interest paid? (Round your answer to the nearest cent.)

Question

asked Dec 25, 2024 158k views

1 Answer

Albarji · Answer 1 · 2024-12-30T08:56:21+0000

Answer: $4,499.84

Step-by-step explanation:

$420.83 x 12 x 4 = $20,199.84 (The total paid for the car)

$20,199.84 - $15,700 = $4,499.84 in interest charges