Question

Frederick needs to borrow $3000 for a down payment on a new car. His uncle decided to loan him the money as a 2.7% loan. Frederick doesn't want to pay more than $243 in interest. How many years does Frederick have to pay back the loan?

Answer 1

Explanation:

i=prt

243=3000(.027)(t)

243=81(t)

t=3

he must pay it back in 3 years