Zaley buys a used car for $8,000. She takes out a loan at 8.5% simple interest for 4 years to pay for the car. How much will Zal

Question

4 years ago

10

ey end up paying for the car? *

1 answer:

omeli [17] · Answer 1 · 2021-12-26T23:16:22+03:00

omeli [17]4 years ago

5 0

Answer:

$10,720

Step-by-step explanation:

Since she pays 8.5% interest per year, in 4 years she will have to pay

4*8.5 = 34% interest.

34% of $8,000 equals

8,000*(34/100) = $2,720

So, she will have to pay

$8,000 + interest = $8,000 + $2,720 = $10,720