Question

Dr. Jones took out a loan for a van that could be equipped with veterinarian supplies for visits to animal shelters. The van cost $22,500 and the loan was for 4 years. If the interest rate was 4.5%, how much will be paid?

Answer 1

Basically what you have to do is multiply all the numbers (22,500, 4, and 4.5)

But for the interest rate after conversion it would be 0.045.


So now all, what you have to do is multiply 22,500 times 4 times 0.045 and boom you get your answer.

The concept is very simple. If you wanna learn more search up the interest formula!
Good Luck!

Answer 2

The answer I got was 4,050