Question

Kate borrowed $14,000 from a bank. The bank required a minimum monthly payment of $247 for 6 years. If Kate takes the full 6 years to repay the loan, what is the total amount she will pay in interest?

Answer 1

Answer: Kate will pay $3,784.00 in interest

Step-by-step explanation: 247 x12 = 2964

2964 x 6=17784

17784-14000=3784.00