Answer :
To determine how much interest Landon paid on the camper, we need to follow these steps:
1. Calculate the Total Amount Paid:
- Landon paid [tex]$20 each month for 24 months.
- Multiply the monthly payment by the number of months:
\(20 \times 24 = 480\).
So, Landon paid a total of $[/tex]480.
2. Find the Sticker Price:
- The original price of the camper was $3,700.
3. Calculate the Interest Paid:
- To find out how much interest Landon paid, subtract the sticker price from the total amount paid:
[tex]\(480 - 3700 = -3220\)[/tex].
This result indicates that something unusual occurred in the problem setup because it suggests a negative interest payment. It implies that the payment terms or calculation might need reconsideration if this appears in a real-world context, since normally, interest paid would result in a positive number only.
1. Calculate the Total Amount Paid:
- Landon paid [tex]$20 each month for 24 months.
- Multiply the monthly payment by the number of months:
\(20 \times 24 = 480\).
So, Landon paid a total of $[/tex]480.
2. Find the Sticker Price:
- The original price of the camper was $3,700.
3. Calculate the Interest Paid:
- To find out how much interest Landon paid, subtract the sticker price from the total amount paid:
[tex]\(480 - 3700 = -3220\)[/tex].
This result indicates that something unusual occurred in the problem setup because it suggests a negative interest payment. It implies that the payment terms or calculation might need reconsideration if this appears in a real-world context, since normally, interest paid would result in a positive number only.
