Damon borrowed $1,950 for two years. The total amount he repaid was
$2,415.80. How much interest did he pay for the loan?
a. $430.10
b. $801.90
c. $465.80
d. $390
To find out the amount of interest Damon paid, we need to subtract the original amount he borrowed from the total amount he repaid:
$2,415.80 - $1,950 = $465.80
Therefore, Damon paid $465.80 in interest. The correct answer is (c) $465.80.