Mrs. siebenaller bought a bus for 25,000 with a 7% interest rate mrs s gets a loan payoff of 60 months how much interest would she pay

Step-by-step explanation:

Mrs. Siebenaller bought a bus for 25,000 with a 7% interest rate and she gets a loan payoff of 60 months,

We know that,

Where,

PV = Present value of annuity = 25000,

r = rate of interest of each period = % monthly

n = number of periods = 60 months,

Putting the values,

Hence total amount paid is,

Therefore interest amount is,