Megan bought a car for $12,500. She made a down payment of

$3,500 and financed the rest. If she made 48 payments of $240
each, how much interest did she pay?

12,500 - 3,500 = 9,000

48 * 240 = 11,520

11,520 - 9,000 = ____ total interest payments

To find out how much interest Megan paid, we need to calculate the total amount she financed for the car.

1. Start with the total cost of the car: $12,500
2. Deduct the down payment made by Megan: $3,500
Total amount financed = $12,500 - $3,500 = $9,000

Now, we'll calculate the total amount Megan paid over 48 payments.

3. Multiply the monthly payment by the number of payments: $240 x 48 = $11,520

Finally, we'll subtract the total amount financed from the total payments made to find the interest paid.

4. Interest paid = Total payments - Total amount financed
Interest paid = $11,520 - $9,000 = $2,520

Therefore, Megan paid $2,520 in interest.

To find out how much interest Megan paid, we need to calculate the total amount she paid over the 48 payments and subtract the amount she initially financed.

The total amount Megan paid over the 48 payments can be found by multiplying the payment amount by the number of payments:
Payment amount = $240
Number of payments = 48

Total amount paid = Payment amount x Number of payments
= $240 x 48
= $11,520

To calculate the amount Megan initially financed, we subtract the down payment from the total cost of the car:
Total cost of the car = $12,500
Down payment = $3,500

Amount financed = Total cost of the car - Down payment
= $12,500 - $3,500
= $9,000

Now we can calculate the amount of interest Megan paid by subtracting the amount financed from the total amount paid:
Interest paid = Total amount paid - Amount financed
= $11,520 - $9,000
= $2,520

Therefore, Megan paid $2,520 in interest.