The formula I = 2yc divided by m(n+1), the c stands for number of months total interest amount financed number of months total

Question

asked Dec 15, 2018 84.8k views

2 Answers

Splatte · Answer 1 · 2018-12-20T23:38:22+0000

Answer: Total interest.

Explanation:

Since In the formula,

I = (2yc)/(m(n+1))

Where,

= payments per year,

= total interest paid,

= amount financed,

= total number of payment,

= true interest rate.

Thus, Second option is correct.