1030636379
Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Explore a wealth of knowledge from professionals across various disciplines on our comprehensive Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Please Help Me!
Find the simple interest Jolie owes on a 2-year loan for $9,500 to buy a used car at the rate of 9% interest.

This is a TWO part question, make sure to answer both part A. and B.


A. Find the amount of interest. Show the math computation use to find the amount of interest.


B. What was the monthly payment? Show the work used to find this answer.

Sagot :

Answer:

a. 1710 b. 71.25

Step-by-step explanation:

the formula for simple interest is i=prt

2(9500)(0.09)= 1710

to find the monthly payment, divide by the number of months.

1710/24=71.25

yuly3000
$9500/100*9=$855 first year
So, two years are $1710 of interest.
$9500+$1710=$11,210
$11,210/24=$467.08 monthly payment
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.