Howie wants to get a car loan with 4% simple interest rate. If the car costs $25,000, how much would Howie need to pay back at t
he end of one year, including the interest?
1 answer:
The amount Howie will pay back at the end of one year is $26000.00
The given parameters are:
-- the principal amount
-- the interest rate
--- the duration
The amount to pay back in this duration is then calculated using:

So, we have:


Express percentage as decimal


Multiply

Hence, the amount to pay back is $26000.00
Read more about simple interest at:
brainly.com/question/1115815
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