Question

You purchase a car using a $20,000 loan with a 5% simple interest rate.

Answer 1

if your asking how much it would be after interest it would be 21000 due to the fact you multiply 5% by 20000 and then you get 1000 so you add the 20000 to the 1000

Answer 2

20,000 multiply 0.05= 1000
5%= 0.05