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The total amount Maria ended up paying for the equipment will be $14,861.76. And The interest of Maria on the loan will be 8.48%.
What is Algebra?
The analysis of mathematical representations is algebra, and the handling of those symbols is logic.
To purchase 13700 worth of restaurant equipment for her business.
Maria made a down payment of 1500 and took out a business loan for the rest, after 3 years of paying monthly payments of 371.16 she finally paid off the loan.
The total amount Maria ended up paying for the equipment will be
Total amount = 371.16 × 3 × 12 + 1500
Total amount = $14,861.76
The interest of Maria on the loan will be
Interset = [(14861.76 – 13700) / 13700] x 100
Interset = 8.48%
More about the Algebra link is given below.
https://brainly.com/question/953809
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