Melissa wants to buy a new boat but needs money for the down payment. Her parents agree to lend her money at an annual rate of 4%, charged as simple interest. They lend her $3,000 for 3 years. She makes no payments except the one at the end of that time.

Question

04-01-2021
Mathematics

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Melissa wants to buy a new boat but needs money for the down payment. Her parents agree to lend her money at an annual rate of 4%, charged as simple interest. They lend her $3,000 for 3 years. She makes no payments except the one at the end of that time.

Sagot :

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