Ask Question
28 January, 15:07

You purchase a car using a $18,000 loan with a 5% simple interest rate. Suppose you pay the loan off after 3 years. How much interest do you pay on your loan?

+2
Answers (1)
  1. 28 January, 16:47
    0
    Answer: $2,700

    Step-by-step explanation:

    $18,000 times 5% = 900

    900 times 3 is 2,700

    Therefore your answer will be 2,700
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You purchase a car using a $18,000 loan with a 5% simple interest rate. Suppose you pay the loan off after 3 years. How much interest do ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers