You purchase a car using a $18,000 loan with a 5% simple interest rate. Suppose you pay the loan off after 3 years. How much int
erest do you pay on your loan?
1 answer:
Answer: $2,700
Step-by-step explanation:
$18,000 times 5% = 900
900 times 3 is 2,700
Therefore your answer will be 2,700
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Step-by-step explanation:
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