Joseph took out a loan from the bank to purchase a new car. The initial loan amount was for $25,000 with an interest rate of 3.5
%. If Joseph takes 5 years to pay off the loan, what is the total amount he will have paid for the car?
1 answer:
3.5% • 5 = 17.5%
$25,000 • 17.5% = $437,500
i hope this is correct
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Have a nice day :)
ten un buen dia :)
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