Question

if you borrowed $1450 to buy a used car at a rate of 10% interest and planned on paying it back in 4 years, what is the total amount you would pay back? A)$580 Eliminate B)$1508 C)$1595 D)$2030

Answer 1

Answer:2,030

Step-by-step explanation:

The correct answer is $2030. Using the formula for simple interest I = prt where p is the money amount, r is the interest rate in decimal form and t is time in years, you have I = (1450)(.10)(4) which is $580. This interest should be added back to the $1450 to get $2030.

Answer 2

1450x.10x4=580

1450+580=2030

D)$2030