SOLUTION: Suppose you see a car with an advertised price of $29,550 at $645.70 per month for 5 years. What is the amount of interest paid?

SOLUTION: Suppose you see a car with an advertised price of $29,550 at $645.70 per month for 5 years. What is the amount of interest paid?

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Question 579348: Suppose you see a car with an advertised price of $29,550 at $645.70 per month for 5 years. What is the amount of interest paid?

Answer by dfrazzetto(283) (Show Source): You can put this solution on YOUR website!
Total paid:
5 years = 60 months
645.70/month (60 months) = 38742
Interest = Total - Price = 38742 - 29,550 = $9192
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