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Edith took out 20,000 car loan for over 4 years at 6% simple interest rate. what will be the TOTAL amount paid back at the end of 4 years?

Edith took out 20,000 car loan for over 4 years at 6% simple interest rate. what will be the TOTAL amount paid back at the end of 4 years?
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edith took out 20,000 car loan for over 4 years at 6% simple interest rate. what will be the TOTAL amount paid back at the end of 4 years?

asked
User Sambold
by
8.0k points

1 Answer

1 vote

Answer:

$20,000 + $20,000(.06)(4) =

$20,000 + $4,800 = $24,800

answered
User Kiwo Tew
by
7.9k points
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