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Joni took out a loan for $23,734. To pay it back, she will make 40 monthly payments
of $796. How much will he pay in interest? Round answer to a whole number. Do not
include the units. Be sure to attach your work for credit.
Your Answer:

Respuesta :

petegaffney
To find the total interest paid, we need to subtract the principal amount from the total amount paid over the 40 months.

Total amount paid = Monthly payment * Number of months
Total amount paid = $796 * 40 = $31,840

Interest paid = Total amount paid - Principal amount
Interest paid = $31,840 - $23,734 = $8,106

Rounded to a whole number, Joni will pay $8,106 in interest.

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