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If Naghia borrows $4,000 to buy a vehicle and her payment is $125.35 a month for 36 months, how much will she pay in interest over the life of the loan? $512.60 $4,512.60 $4,000.00 None of the above
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If Naghia borrows $4,000 to buy a vehicle and her payment is $125.35 a month for 36 months, how much will she pay in interest over the life of the loan? $512.60 $4,512.60 $4,000.00 None of the above

User Vabarbosa
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1 Answer

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She will pay $512.60 in interest.

$125.35 for 36 months amounts to 125.35(36) = 4512.60. The difference is 4512.60-4000 = 512.60 that she pays in interest.
User Dror Harari
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