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slamgirl [31]
3 years ago
5

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

Mathematics
1 answer:
nata0808 [166]3 years ago
3 0
A) A = 20,000 [Principle] * (0.05 [Interest] * 4 [Number of years]) = $4,000 interest

b) A = 20,000 [Principle] * (0.05 [Interest] * 2 [Number of years]) = $2,000 interest
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