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Gregg Carr borrows $5,000 for 4 years at 6% annual interest. His monthly payment is $117.43. What is the total payback including the loan and interest?
A. $469.72
B. $636.64
C. $2,818.32
D. $5,636.64

Respuesta :

wolf1728
117.43 for 48 months = 117.43 * 48 = 5,636.64 total payments
5,636.64 minus 5,000.00 = 636.64 interest
answer is B