Kacie has a balance of $10,000 on a loan with an annual interest rate of 8%. To pay off the $10,000 in four years, Kacie will have to make a minimum payment is $244.13 per month. How much will kacie pay in interest over the four year period?

A.) $1.088.20

B.) $1,718.24

C.) $2,971.99

D.) $11,718.24

Question

Kaitlin Nielsen

Mathematics

28 October, 00:58

Kacie has a balance of $10,000 on a loan with an annual interest rate of 8%. To pay off the $10,000 in four years, Kacie will have to make a minimum payment is $244.13 per month. How much will kacie pay in interest over the four year period?

A.) $1.088.20

B.) $1,718.24

C.) $2,971.99

D.) $11,718.24

+5

Answers (1)

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Jennifer Moran · Answer 1

Kacie has a balance of $10,000 on a loan with an annual interest rate of 8%. To pay off the $10,000 in four years, Kacie will have to make a minimum payment is $244.13 per month. How much will kacie pay in interest over the four year period?

A.) $1.088.20

B.) $1,718.24

C.) $2,971.99

D.) $11,718.24

Kacie has a balance of $10,000 on a loan with an annual interest rate of 8%. To pay off the $10,000 in four years, Kacie will have to make a minimum payment is $244.13 per month. How much will kacie pay in interest over the four year period?A.) $1.088.20B.) $1,718.24C.) $2,971.99D.) $11,718.24