Solve the problem. Round to the nearest cent.A homeowner installed new kitchen cabinets and countertops for $6500. He paid 10% down and financed the balance with a 24-month fixed installment loan with an APR of  Determine the monthly payment for the loan and amount of interest paid.

A. Monthly payment = $523.82; Interest paid = $436.08
B. Monthly payment = $274.02; Interest paid = $726.57
C. Monthly payment = $302.95; Interest paid =$770.90
D. Monthly payment = $261.92; Interest paid = $436.08


Answer: D

Mathematics

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