3 years ago

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

Mathematics

2 answers:

grigory [225]3 years ago

8 0

Answer:

a) $4000

b) $2000

Step-by-step explanation:

interest = Principal x rate as decimal x time

interest = 20,000 x 0.05 x 4

interest = 4000

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]3 years ago

3 0

Answer:2,500

Step-by-step explanation:

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