To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay if she pays the entire loan off at the end of the third year? What is the total amount that she repay?

Show all work. Answer both questions. And you will be marked brainest!

Question

Mathematics

Gustavo Nelson

17 July, 16:49

To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay if she pays the entire loan off at the end of the third year? What is the total amount that she repay?

Show all work. Answer both questions. And you will be marked brainest!

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Answers (1)

Know the Answer?

Dillon Duran · Answer 1

First, find the interest she will pay. principal + interest = amount

15,000 + 4050 = A (Substitute)

19,050 = A (Solve for A)

Jessica will repay a total of $19,050 on her loan.

To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay if she pays the entire loan off at the end of the third year? What is the total amount that she repay?Show all work. Answer both questions. And you will be marked brainest!

To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay if she pays the entire loan off at the end of the third year? What is the total amount that she repay?

Show all work. Answer both questions. And you will be marked brainest!