Find the Amount of Interest and the Monthly Payment for the Loan

Multiple Choice

Find the amount of interest and the monthly payment for the loan described below. Round interest to the nearest dollar and monthly payment to the nearest cent. Purchased a gas barbeque for $2,150 at 13% add-on interest for 2 years.

A) $\$ 595$ interest; $\$ 114.39$ per month
B) $\$ 559$ interest; $\$ 225.75$ per month
C) $\$ 559$ interest; $\$ 112.88$ per month
D) $\$ 595$ interest; $\$ 112.88$ per month
E) $\$ 559$ interest; $\$ 114.39$ per month