Question 885359
I worked out the problem again. I came to the conclusion that the choices given for a possible answer are wrong. 



A loan of 2400 dollars is to be paid in the following manner; 
300 dollars will be paid at the end of each year 
plus 10% interest on the unpaid balance at the beginning of the year. 
Find the total of all the payments.
The loan is for $2400. 
2400/300 = 8
It will take 8 years to make the full payment 
plus 10% on the unpaid balance. 
0.1(2400 + 2100 + 1800 + 1500 + 1200 + 900 + 600 + 300) = 1,080
The total of all payments will then be $1,080 + $2,400 or $3,480.

The correct answer is $3,480.
How can it be anymore?