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Svetlanka [38]
3 years ago
15

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

Mathematics
1 answer:
lapo4ka [179]3 years ago
8 0
I=PRT
P=principal
R=rate
T=time in years

A.
P=20000
R=5%=0.05
T=4
I=2000*0.05*4
I=1000*4
I=4000
interest=$4000

B. T=2 this time
I=20000*0.05*2
I=1000*2
I=2000
you save 4000-2000=2000



A. $4000
B. $2000, save $2000
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