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Item 17 You borrow $10,000 to buy a car. The simple interest rate is 3%. You pay the loan off after 6 years. What is the total amount you paid for the loan?

Item 17 You borrow $10,000 to buy a car. The simple interest rate is 3%. You pay the loan off after 6 years. What is the total amount you paid for the loan?
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1 vote
Item 17 You borrow $10,000 to buy a car. The simple interest rate is 3%. You pay the loan off after 6 years. What is the total amount you paid for the loan?

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User Pye
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8.8k points

1 Answer

1 vote
if it is annual then $11,940.52
answered
User Cfraser
by
8.3k points
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