Max is taking out a 5.1% load in order to purchase the 17,000 car the length of the loan is five years how much will the pay in

Question

3 years ago

8

interest

2 answers:

katrin2010 [14] · Answer 1 · 2022-05-31T04:49:09+03:00

6 0

I don't which interest it is
Simple interest=
$17000 \times 5.1\% \times 5$
Compound interest=
$17000(1 + {5.1\%})^{5}$
then solve

Alenkasestr [34] · Answer 2 · 2022-05-31T06:00:37+03:00

Answer: 4,335

Step-by-step explanation:

To calculate max interest, we simply us the simle interst formular;

Simple interest = P × R ×T / 100

where p= principal

R = Rate

T= time (in years)

principal = 17, 000 Rate = 5. 1 and the time= 5

Simple interest =P × R ×T / 100

= 17000 × 5. 1 ×5 / 100

(The two zeros at the denominator will cancel two of the zeros at the numerator)

simple interest = 170 × 5. 1 × 5

=4335

Therefore the pay in interest is 4335