Answer:
A. $35,095.2
B. $4,995.2
Step-by-step explanation:
The total amount paid to the bank can be calculated as the monthly payment multiplied by the number of months in the course of the loan. So, it is equal to:
Total = $584.92 x 5 years x 12 months
Total = $35,095.2
On the other hand, the total finance charge paid to the bank can be calculated as the total amount paid to the bank less the initial cost of the car, so:
$35,095.2 - $30,100 = $4,995.2
Therefore, the answers are:
A. $35,095.2
B. $4,995.2