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30 December, 08:04

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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  1. 30 December, 08:31
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    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.
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