Answer: A
Step-by-step explanation:
First you have to calculate the Interest of the loan each month which is 48,000*.05 = 2400/12= 200 dollars he has to pay per month. Then we have have to calculate how much he has to pay off the loan each month which is 48000/5 years to pay it off = 9600/12 months = 800.
800+200= 1000 dollars a month interest and loan
