Your brother is going to buy a car when he graduates, but he doesn't have enough money to pay for it in cash. He takes a loan out at a bank that charges 4% simple interest. If the initial cost of the car is $18,500 and he takes out a 5-year loan, what is the total amount your brother will be paying for the cost of his car?

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6 February, 23:49

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Madelyn · Answer 1

Step-by-step explanation:$18,500 *.04=

$740*5 = $3,700 + $18,500=

$22,200 for total loan