Thang decided to borrow $3000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of

Question

2 years ago

13

5%. How much interest will Thang pay?

1 answer:

Naya [18.7K] · Answer 1 · 2022-06-15T09:16:45+03:00

3 0

Answer:

$450

Step-by-step explanation:

x/3000 = 5/100 (Cross multiply)

100x = 3000(5)

100x = 15000

100x/100 = 15000/100

x = 150

150(3) = 450

Thang decided to borrow ​$3000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of