The principal on Jan’s loan was $4,700, but by the time she had paid it off after four years, the interest and principal totaled $5,388. If Jan made regular quarterly payments of $355 until the loan was paid off, how much did Jan pay for service charges?

Four years of quarterly payments means 4 × 4 = 16 payments. Jan paid 16 × $355 = $5,680 altogether. Subtracting the $5,388 total for principal and interest leaves $5,680 − $5,388 = $292 in service charges, so the correct choice is $292.

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