A = P(1 + r)^t is the interest formula
A = 1000(1 + .02)^t
A = 1000(1.02)^t
I'm not sure which of your two answers A or C have the t raised to a power but you need to choose the one with the t raised to a power.
Amount of car loan taken by Scott = $5500
Amount of loan paid back by Scott = $7370
Then
Amount of money paid as interest by Scott = (7370 - 5500) dollars
= 1870 dollars
Then
Percentage of interest given for the car loan = (1870/5500) * 100
= 1870/55
= 34 percent
So Scott had to pay a total interest rate of 34% in the four years.I hope the procedure is simple enough for you to understand and solve future problems.
Answer is linear function
It's top left
