17 months ago you borrowed $14,500 to purchase a used Rolls.  The annual interest rate is 7.3% and the loan is to be repaid with monthly payments over 5 years.  You have just remitted your 17th payment. What is the total interest-to date you have paid?

Answer rating: 100% (QA)

To calculate the total interest paid to date after 17 months of making monthly payments on a loan we... View the full answer