Answered

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If Sally purchases a car for $22,000 with a 5 year loan having a 2.5% interest rate, how much simple interest will she have to pay on the loan?

Sagot :

Answer:

Simple interest = $2750

Step-by-step explanation:

Principal; P = $22000

Time; t = 5 years

Rate; r = 2.5%

Formula for simple interest is;

i = PRT/100

i = (22000 * 2.5 * 5)/100

i = $2750

MrBrainly001

Answer:

2750

Step-by-step explanation:

simple interest = (22,000*5*2.5)/100

simple interest= 2750

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