Ryad borrowed $1,450 and made 18 payments of $95.25. How much did he
pay in interest?
To find the total amount paid, we can multiply the monthly payment by the number of payments:
18 payments × $95.25 per payment = $1,715.50
This means that Ryad paid a total of $1,715.50 over the course of the loan.
To find the amount of interest paid, we can subtract the original amount borrowed from the total amount paid:
$1,715.50 - $1,450 = $265.50
Therefore, Ryad paid $265.50 in interest over the course of the loan.