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Colin took out a loan with a principal of $32,800. After five years, the interest and principal totaled $48,872. If Colin made monthly payments of $816 for five years until the loan was paid off, how much did Colin pay in service charges?

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Below are the choices:

a. 
$16,072 
b. 
$88 
c. 
$16,160 
d. 
$163

816 * 5 * 12= 48960 

If the P and I totaled 48872, then... 
48960 - 48872= 88 

The service charges were $88 B.

Answer:

B. 88!!!

Step-by-step explanation:

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