On a loan of $2300 a person pays back $310 monthly over 3 years. How much was paid on the loan?
A) 8860
B) 1060
C) 930
D) 11160
310*12*3= you do it.
"help me pls" and "Hi" and "Kate" and whatever else you've used today -- pick a name and stick with it please. Playing games with your screenname is just silly.
To calculate how much was paid on the loan, we need to multiply the monthly payment by the number of months the loan was paid back.
Given:
Loan amount = $2300
Monthly payment = $310
Duration = 3 years
To find the number of months, we multiply the number of years by 12 (since there are 12 months in a year):
Number of months = 3 years * 12 months/year = 36 months
Now, we can calculate the total amount paid on the loan:
Total amount paid = Monthly payment * Number of months
Total amount paid = $310 * 36 = $11160
Therefore, the answer is D) $11160.