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14 October, 13:57

Mohammad borrowed $809 for nine months, with monthly payments of $96.00. What is the amount of total payments?

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  1. 14 October, 14:16
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    Amount of total payment is $864.

    Explanation:

    Principal Amount = $809

    Monthly payments = $96

    Number of months = 9 Months

    Total payment = Monthly Payment x Number of Months

    Total payment = $96 x 9 months

    Total payment = $864

    Extra payment paid with principal = Total Payment - Principal payment

    Extra payment paid with principal = $864 - $809

    Extra payment paid with principal = $55
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