asked 160k views
1 vote
Jerry's loan had a principal of $22,000. He made quarterly payments of $640 for nine years until the loan was paid in full.

How much did Jerry pay in interest?
a $3,120
b. $1,040
c.$2,010
d. $5,760

Please select the best answer from the choices provided

asked
User Sbha
by
7.8k points

2 Answers

6 votes

Answer:

b. 1,040

Explanation:

640 * 4 = 2560

2560*9 = 23040

23040 - 22000 = 1,040

answered
User Pritesh Bhoi
by
8.5k points
4 votes
B. 1,040

Step by step

12 times 9=108
108/3=36
640 times 36= 23,040
answered
User Betaman
by
7.8k points
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