Question

If Katarina continues to make only the minimum payments, she will have to make payments for 38 months and will spend $667. Once she has paid off the laptop, how much interest will Katarina have paid?

a) $267
b) $329
c) $476
d) $529

Answer 1

To calculate the interest Katarina will have paid, the initial cost of the laptop must be subtracted from the total payments of $667. However, the original cost is not provided in the information given, making it impossible to determine the correct amount of interest.

Step-by-step explanation:

To determine how much interest Katarina will have paid on her laptop, we must first deduct the cost of the laptop from the total amount she will pay after 38 months. If the total payments are $667 and this includes the cost of the laptop plus the interest, we need to know the initial price of the laptop to calculate the interest. Unfortunately, the given information does not provide the original cost of the laptop. Without this essential piece of information, we cannot accurately answer the question. As professional guidance, it is imperative to have the purchase price to effectively calculate the interest paid.