Ask Question
21 March, 04:37

You borrow $10,000 to buy a carThe simple interest rate is 3%. You pay the loan oft after 6 years. What is the total amount you paid for the loan?

+4
Answers (1)
  1. 21 March, 04:39
    0
    Step-by-step explanation:

    Amount loaned = $10,000

    Interest rate = 3%

    Duration = 6 years

    10,000 / 100 x 3/1 * 6

    = 300 * 6

    = 1800 + 10,000

    Total Amount to pay

    = $11,800
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You borrow $10,000 to buy a carThe simple interest rate is 3%. You pay the loan oft after 6 years. What is the total amount you paid for ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers