Register

1. 1. Wanda took out a personal loan for $16,000 at 9% simple interest. a. A. How much interest will she pay after 5 years? B. Suppose she pays off the loan in 3 years instead o…

1. 1. Wanda took out a personal loan for $16,000 at 9% simple interest. a. A. How much interest will she pay after 5 years? B. Suppose she pays off the loan in 3 years instead o…
asked 230k views
5 votes
1. 1. Wanda took out a personal loan for $16,000 at 9% simple interest. a.

A. How much interest will she pay after 5 years?

B. Suppose she pays off the loan in 3 years instead of 5 years. How much money will she save in interest?

asked
User Dhokas
by
7.5k points

1 Answer

1 vote
16000x9%x5 is $7200 #1 is $7200
16000x9%x3 is $2400 soo 7200-2400 is 4800 sooo
#1 is $7200
#2 is he or she will save $4800
answered
User Paulo Schreiner
by
8.5k points
← Prev Question Next Question →

Related questions

User Napseis
asked Feb 27, 2018 175k views
Wanda took out a personal loan for $16,000 at 9% simple interest how much interest will she pay after 5 years?
Napseis asked Feb 27, 2018
by Napseis
8.5k points
2 answers
0 votes
175k views
Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!