Find the amount of interest and the monthly payment for the loan described below. Round your answer to the nearest dollar. Purchased a stereo for $2,500 at 13% add-on interest for 3 years.
A) $\$ 1,107$ interest; $\$ 100$ per month
B) $\$ 975$ interest; $\$ 97$ per month
C) $\$ 975$ interest; $\$ 100$ per month
D) $\$ 975$ interest; $\$ 290$ per month
E) $\$ 1,107$ interest; $\$ 97$ per month

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The Answer of Find the amount of interest and the monthly payment for the loan described below. Round your answer to the nearest dollar. Purchased a stereo for $2,500 at 13% add-on interest for 3 years.
A) $\$ 1,107$ interest; $\$ 100$ per month
B) $\$ 975$ interest; $\$ 97$ per month
C) $\$ 975$ interest; $\$ 100$ per month
D) $\$ 975$ interest; $\$ 290$ per month
E) $\$ 1,107$ interest; $\$ 97$ per month

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