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wolverine [178]
4 years ago
12

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

Mathematics
1 answer:
erica [24]4 years ago
7 0
A) I=prt; I=20,000(.05)(4) = $4000 b) I = prt; I = 20,000(.05)(2) = $2000 $4000-$2000 = $2000. You save $2000 by paying it off in 2 years vs. 4 years
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