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agasfer [191]
2 years ago
10

3. You purchase a car using a $20,000 loan with a 5% simple interest rate.

Mathematics
2 answers:
grigory [225]2 years ago
8 0

Answer:

a) $4000

b) $2000

Step-by-step explanation:

a)

interest = Principal x rate as decimal x time

interest = 20,000 x 0.05 x 4

interest = 4000

b)

interest = Principal x rate as decimal x time

interest = 20,000 x 0.05 x 2

interest = 2000

you save $2000 if you pay after 2 years

Elena L [17]2 years ago
3 0

Answer:2,500

Step-by-step explanation:

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