Suppose you see a car with an advertised price of $30,250 at $605.15 per month for 5 years. What is the amount of interest paid?
I need help with this problem.Please give me the steps to figure this problem out.
Po = $30,250.
Pt=$605.15/mo * 60 = $36,309 = Amt pd.
I = 36,309 - 30250 = $6059 = Int. paid.