Ronald borrows $6400 and agrees to pay $640 at the end of each month to reduce the principal. He also agrees to pay the interest due on the unpaid balance each month. what is the sum of all interest payments if interest is charged at a rate of 4% per month?

webwork mai/UOC W20 / assignment 571 Sets ent 5 Assignment 5: Problem 1 em 1 ngs Previous Problem Problem List Next Problem blems (1 point) Ronald borrows $6400 and agrees to pay $640 at the end of each month to reduce the principal. He also agrees to pay the interest due on the unpaid balance each month. What is the sum of all interest payments if interest is charged at a rate of 4% per month? Answer. $ Preview My Answers Submit Answers 14 5 You have attempted this problem 0 times. You have 10 attempts remaining. m 6 m7 Email instructor m 8 m 9 m 10