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18 June, 01:26

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

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  1. 18 June, 03:16
    0
    He paid an of 4790

    Step-by-step explanation:

    If John took a loan of 18550

    Then in 60 months, we will pay back 389 multiply by 60

    389 * 60 = 23340

    Therefore he paid an interest of 23340 minus 18550, that is

    23340 - 18550 = 4790
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