3. You purchase a car using a $20,000 loan with a 5% simple interest rate.
(a) How much interest do you pay on your loan if you pay off the loan in 4 years? Show your work.
(b) How much interest do you pay on your loan if you pay off the loan in 2 years? Show your work.
(c) How much interest do you save by paying the loan off in 2 years instead of 4? Show your work. Answer:
P / 100 = 25 / 75;
p = 2500 / 75 ;
p = 33.33;
p% = 33.33%
Answer:
Are there directions?
Step-by-step explanation:
Answer:
-3x
Step-by-step explanation:
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