hopegordon3610 hopegordon3610

17-08-2020
Mathematics

contestada

Joel took out a car loan for 12000 he paid 4800 in interest at a rate of 8% per year how many year will it take him to pay off the loan.

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sqdancefan sqdancefan

21-08-2020

Answer:

5 years

Step-by-step explanation:

Simple interest on a loan of P for t years at rate r per year is ...

I = Prt

4800 = 12,000(0.08)(t)

4800/960 = t = 5

It will take Joel 5 years to pay off the loan.

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