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Denis is looking to buy a new car. He can take a loan out for $12,000 with an interest rate of 4% for 5 years. How much would his loan cost in total, including interest?

Denis is looking to buy a new car. He can take a loan out for $12,000 with an interest rate of 4% for 5 years. How much would his loan cost in total, including interest?
asked 15.9k views
5 votes
Denis is looking to buy a new car. He can take a loan out for $12,000 with an interest rate of 4% for 5 years. How much would his loan cost in total, including interest?

asked
User Steve Claridge
by
7.5k points

2 Answers

2 votes
$24,000 is the answer
answered
User Boommeister
by
8.3k points
0 votes
$24,000

Explanation : 12,000 x 4% = 480
480 x 5 = $2,400
answered
User Clarkep
by
7.9k points
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