PLEASE HELP ASAP!
John took out a loan of $18,550. To pay it back, he will make 60 monthly payments of $389. How much will he pay in interest?

-$3,890
-$4,790
-$5,690
-$6,590

b. $4,790

Step-by-step explanation:

To do this we first have to calculate how much is the total of what I pay in the 60 monthly payments

For this we only have to multiply the value of $ 389 by the number of months (60)

$389 * 60 = $23,340

This means that what I actually pay John is $23,340 and not  $18,550

If we want to know how much interest payment, we only need to make a difference of these values

$23,340 - $18,550 = $4,790

so what interest payment is $ 4,790

the entire expression should be subtracted from 30. to subtract the quantity, distribute the negative sign, which changes the signs on the terms. so, the –2 changes to positive and gets added to 30 instead of subtracted from it.

hope this ! ^w^

l.ln.lln.k.nkl

step-by-step explanation: