Thang decided to borrow $7000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of

Question

3 years ago

7

8%. How much interest will Thang pay?

2 answers:

jekas [21] · Answer 1 · 2022-05-03T11:28:28+03:00

jekas [21]3 years ago

6 0

You need to find 24% of $7000 because that's the total interest over the course of 3 years. The answer is $1680

leonid [27] · Answer 2 · 2022-05-03T13:23:20+03:00

5 0

Total interest=principal*interest rate*time,,,
I=prt
I=7000*0.08*3=??

Thang decided to borrow ​$7000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of