Question

7 Mrs MacGregor took a personal loan of ($)8000 over three years. She repaid ($)325 per month in that period. How much did she repay in total? b How much interest did she pay in pounds? c At what rate was simple interest charged over the three years?
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Answer 1

Step-by-step explanation:

T= 3yrs= 36 months

Money paid per month = $325

(a)Money paid for 3yrs(36 months) = 325*36 = $11700

(b) Interest paid = Amount - Principal Amount

                          = 11700 - 8000

    Interest paid = $3700                      

$1 = 0.73£

So Interest paid in pounds = 3700*0.73 = 2696.99 = 2697(approx)

I'm sorry but (c) is not coming please check if the question is correct..

But I  hope it helps..