Register

Jimmy owes $29,500 for a car loan to be repaid in 36 months. If the interest rate is 7.375%, then how much interest will he pay

Jimmy owes $29,500 for a car loan to be repaid in 36 months. If the interest rate is 7.375%, then how much interest will he pay
asked 80.5k views
0 votes
Jimmy owes $29,500 for a car loan to be repaid in 36 months. If the interest rate is 7.375%, then how much interest will he pay

asked
User GrowinMan
by
8.2k points

1 Answer

1 vote
I=PRT. Sub in what you know: I=29,500(.07375)(3) time is in years. Multiply: I=6526.875. Round to the nearest hundredth: $6,526.88 is his interest :)
answered
User Ofer Eliassaf
by
8.0k points
← Prev Question Next Question →

Related questions

User Chris Wolf
asked May 17, 2024 215k views
What is 8.375% as a decimal.
Chris Wolf asked May 17, 2024
by Chris Wolf
8.6k points
2 answers
1 vote
215k 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

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!