26rhelgoe
Answered

Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

jake buys a new car that costs $15,000 he borrowed from the bank with 3.5% compound interest per year. If it takes 7 years to pay off the loan, how much will he have paid for the car?

Sagot :

Answer:

NVM MY ANSWER IS WRONG ITS INTEREST NVM SRRY

Step-by-step explanation:

you can solve this by doing I=PRT

I=Interest (total which is

P= Principle ($15,000)

R= Rate (3.5% which turns to 0.35 bc you turn it into a decimal)

T= Time (7 years)  

Once they are identified you mulitply them together:

(15,000)(0.35)(7)=36,750

I am sure that's the answer I'm sorry if I am wrong but I did this at the beginning of the year and got a 100% on my test so it should be correct! :)

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.