Math  /  Numbers & Operations

QuestionTo purchase $12,100\$ 12,100 worth of lab equipment for her business, Tammy made a down payment of $1600\$ 1600 and took out a business loan for the rest. After 3 years of paying monthly payments of $319.44\$ 319.44, she finally paid off the loan. (a) What was the total amount Tammy ended up paying for the equipment (including the down payment and monthly payments)? $\$ Џl (b) How much interest did Tammy pay on the loan? $\$ \square

Studdy Solution
Perform the subtraction to find the total interest paid:
13100.6410500=2600.64 13100.64 - 10500 = 2600.64
Solution: (a) The total amount Tammy ended up paying for the equipment is $13100.64\$ 13100.64. (b) The total interest Tammy paid on the loan is $2600.64\$ 2600.64.

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