kaylincaraway kaylincaraway

20-09-2022
Mathematics

contestada

Thang decided to borrow $7000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 5%. How much interest will Thang pay

Respuesta :

murphyart04 murphyart04

20-09-2022

Answer:

He will pay $1,050 interest

Step-by-step explanation:

5% interest is paid every year for 3 years

5% * 3(years) = 15%

7000 * 15% = $1,050

$1,050

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