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V125BC [204]
3 years ago
10

Darlene buys a new car for $12,750. The simple interest rate is 11.3% and the amount of loan (plus simple interest) is repayable

in 4 years. What is the total amount that must be repaid?
Mathematics
1 answer:
vredina [299]3 years ago
8 0

9514 1404 393

Answer:

  $18,513

Step-by-step explanation:

The value of the loan at the end of 3 years is ...

  A = P(1 +rt)

  A = $12,750(1 +0.113·4) = $18,513

Darlene must repay $18,513.

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