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eric borrowed 5,000 to buy a used car. he agreed to make monthly payments of 175.00 for 36 months how much will how actually pay the bank

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adioabiola

The actual payment Eric made to the bank at 175.00 for 36 months is 6,300

Actual payment

  • Amount borrowed = 5,000
  • Monthly payment = 175.00
  • Number of months = 36

Actual payment to bank = Monthly payment × Number of months

= 175.00 × 36

= 6,300

Therefore, the actual payment made to the bank is 6,300.

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