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3 years ago

9

Jose borrowed $20,000 dollars to buy a new speed boat. The interest rate on his loan was 5 percent. He will pay it back in three

years. How much interest will he pay? What will be the total amount he'll pay for the boat including interest? PLEASE HELP :)

1 answer:

Lubov Fominskaja [6]3 years ago

7 0

20,000 * .05 = 1,000 1,000 * 3 = 3,000 20,000 + 3,000 = 23,000 Hope This helps :)

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