Kevin gets an auto loan of $12,000 at 8% annual interest. The terms of his loan state that he has to pay $292.96 each month for 4 years. How much total interest will he have to pay?

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asked May 20, 2018 208k views

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Kevin gets an auto loan of $12,000 at 8% annual interest. The terms of his loan state that he has to pay $292.96 each month for 4 years. How much total interest will he have to pay?

Mathematics
high-school

Arnaud Tournier asked

by Arnaud Tournier

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Do $12,000(1+.08/12)^4

Nachti answered May 24, 2018

by Nachti

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