To purchase $13,400 worth of lab equipment for her business, Martina.pdf

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Martina made a $1,600 down payment to purchase $13,400 worth of lab equipment for her business and took out an $11,800 loan which she paid off over 3 years with monthly payments of $358.99. She ended up paying more than the original loan amount due to interest charges on the financing.

Educación

To purchase $13,400 worth of lab equipment for her business, Martina made a down payment of
$1,600 and took out a business loan for the rest. After 3 years of paying monthly payments of
$358.99, she finally paid off the loan.
(a) What was the total amount Martina ended up paying for the equipment (including the down
payment and monthly payments)?
(b) How much interest did Martina pay on the loan?

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