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To pay for an $18,300 camper, Dante made a down payment of $3900 and took out a loan for the rest. On the loan, he payments of $258.76 for 5 years. (a) What was the total amount Dante ended up paying for the camper (including the down payment and monthly payments)? $◻ (b) How much interest did Dante pay on the loan? $◻

To pay for an $18,300 \$ 18,300 camper, Dante made a down payment of $3900 \$ 3900 and took out a loan for the rest. On the loan, he payments of $258.76 \$ 258.76 for 55 years.\newline(a) What was the total amount Dante ended up paying for the camper (including the down payment and monthly payments)?\newline$□ \$ \square \newline(b) How much interest did Dante pay on the loan?\newline$□ \$ \square

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Q. To pay for an $18,300 \$ 18,300 camper, Dante made a down payment of $3900 \$ 3900 and took out a loan for the rest. On the loan, he payments of $258.76 \$ 258.76 for 55 years.\newline(a) What was the total amount Dante ended up paying for the camper (including the down payment and monthly payments)?\newline$□ \$ \square \newline(b) How much interest did Dante pay on the loan?\newline$□ \$ \square
  1. Calculate Total Amount: First, let's calculate the total amount paid for the camper, including the down payment and the monthly payments.\newlineDown payment: $3,900\$3,900\newlineMonthly payment: $258.76\$258.76\newlineNumber of payments: 55 years ∗12* 12 months/year =60= 60 payments\newlineTotal amount paid in monthly payments == Monthly payment ∗* Number of payments\newlineTotal amount paid in monthly payments =$258.76∗60= \$258.76 * 60
  2. Calculate Monthly Payments: Now, let's perform the calculation for the total amount paid in monthly payments.$258.76×60=$15,525.60\$258.76 \times 60 = \$15,525.60
  3. Add Down Payment: Next, we add the down payment to the total amount paid in monthly payments to find the total amount Dante paid for the camper.\newlineTotal amount paid for the camper = Down payment + Total amount paid in monthly payments\newlineTotal amount paid for the camper = $3,900\$3,900 + $15,525.60\$15,525.60
  4. Calculate Total Amount: Let's calculate the total amount paid for the camper.\newline$3,900+$15,525.60=$19,425.60\$3,900 + \$15,525.60 = \$19,425.60
  5. Calculate Interest: Now, let's calculate the interest Dante paid on the loan. The interest is the difference between the total amount paid for the camper and the original price of the camper.\newlineInterest paid = Total amount paid for the camper - Original price of the camper\newlineInterest paid = $19,425.60\$19,425.60 - $18,300\$18,300
  6. Calculate Total Interest: Finally, let's perform the calculation to find out how much interest Dante paid.$19,425.60−$18,300=$1,125.60\$19,425.60 - \$18,300 = \$1,125.60

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