Answer:
$20,400.00
Step-by-step explanation:
so, they're paying 4.25% of $5,000 every month for 8 years.
well, first lets see how many payments were made.
8 x 12 = 96 payments
4.25% of 5,000 is 212.5
so 96 payments of $212.5 is...
$20,400.00
dang, that's a lot of money.
