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Luda [366]
3 years ago
12

To buy a car, Danny borrowed $16000 for 3 years at an annual simple interest rate of 9%. if it takes him 3 full years to pay off

the loan, how much interest will he pay? Show your work.
Mathematics
2 answers:
Marat540 [252]3 years ago
4 0

Answer:

$4,320

Step-by-step explanation:

I equals PRT. I is the interest. P is the principal, amount borrowed. R is the rate, percent. T is the amount of time in years. Principal in this is 16,000. Rate is 9%, or 0.09. Time is 3 years. So 16,000 times 0.09 times 3 equals 4,320. That is the interest.

Gennadij [26K]3 years ago
4 0
He would pay $4,320 in interest for borrowing $16000
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