PLEASE HELP ASAP!
John took out a loan of $18,550. To pay it back, he will make 60 monthly payments of $389. How much will he pay in interest?

-$3,890
-$4,790
-$5,690
-$6,590

b. $4,790

Step-by-step explanation:

To do this we first have to calculate how much is the total of what I pay in the 60 monthly payments

For this we only have to multiply the value of $ 389 by the number of months (60)

$389 * 60 = $23,340

This means that what I actually pay John is $23,340 and not  $18,550

If we want to know how much interest payment, we only need to make a difference of these values

$23,340 - $18,550 = $4,790

so what interest payment is $ 4,790

d

step-by-step explanation: