Hope this also help
To find the total amount paid, interest paid, and monthly payment for a 4-year loan with 6% simple interest, we need to know the principal amount of the loan. Let's assume the principal amount is $10,000.
Total amount paid = Principal + Interest
Interest = Principal x Rate x Time
Time = 4 years
Interest = $10,000 x 0.06 x 4 = $2,400
Total amount paid = $10,000 + $2,400 = $12,400
To find the monthly payment, we can divide the total amount paid by the number of months in 4 years (48 months).
Monthly payment = $12,400 / 48 = $258.33 (rounded to the nearest cent)
Therefore, the total amount paid is $12,400, the interest paid is $2,400, and the monthly payment is $258.33.