Devin borrowed $1,058 at 13 percent for nine months. what will he pay in interest? how much is his total payment? what will be his monthly payment?

A.

B.

C.

Step-by-step explanation:

We have been given that Devin borrowed $1,058 at 13 percent for nine months.

A. To find the amount of interest paid by Devin we will use formula: , where,

,

,

,

.

Let us convert our given interest rate in decimal form and time in years.

Upon substituting our given values in interest formula we will get,

Therefore, the amount of interest paid by $103.16.

B. Since total payment will be equal to interest rate plus amount of interest.

Therefore, Devin's total payment will be $1161.16.

C. To find the monthly payment we will divide total amount by 9.

Therefore, the amount of Devin's monthly payment is $129.02.

answer: b)

step-by-step explanation:

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