Solve the problem. Use the given table to find monthly payments. 
Jim bought a new boat for $12,000. He paid $4000 for the down payment and financed the rest for 3-years at an interest rate of 10%. Find the monthly payment for the amortized loan, and find the total interest paid on the loan. Assume that all interest rates are annual rates.
A. $250.72; $1025.92
B. $258.16; $1293.76
C. $258.16; $8000.00
D. $265.68; $1564.48
Answer: B
Mathematics
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