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What amount of the total paid is interest

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Question - John buys $3,000 in furniture from a retail store and uses buy now, pay later. They give him a 2 year term and an APR of 24.99%.

How much will he owe overall?

How much of this is interest?

How much is the original cost?

If he starts paying this furniture off with $150 a month, how long will it take him to pay it off?

Based on that number of months, what is his total paid for the furniture?

What amount of the total paid is interest?

Reference no: EM132835010

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