Mr. Adeb takes out an $8,000 personal loan to restore his antique car. The bank loans him the money at 4.5% simple interest for

Question

2 years ago

10

Mr. Adeb takes out an $8,000 personal loan to restore his antique car. The bank loans him the money at 4.5% simple interest for

4 years.
a. How much will Mr. Adeb pay in interest? _

b. What is the total cost of the restoration including the interest? _

Mr. Adeb takes out an $8,000 personal loan to restore his antique car. The bank loans him the money at 4.5% simple interest for 4 years.

a. How much will Mr. Adeb pay in interest?

b. What is the total cost of the restoration including the interest?

Mathematics

1 answer:

MariettaO [177] · Answer 1 · 2023-02-18T22:05:04+03:00

MariettaO [177]2 years ago

7 0

Answer:

A) $1440

B) $9440

Step-by-step explanation:

A) 4.5% x $8000 = $360 x 4 years = $1440

B) $1440 + $8000 = $9440