At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

To purchase [tex]$14,800 worth of lab equipment for his business, Hong made a down payment of $[/tex]1300 and took out a business loan for the rest. After 2
years of paying monthly payments of [tex]$598.34, he finally paid off the loan. (a) What was the total amount Hong ended up paying for the equipment (including the down payment and monthly payments)? $[/tex] 1
(b) How much interest did Hong pay on the loan?
5