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Erin wants to buy a new car. To do this, she takes out a loan of $24,000. The loan is to be repaired in seven years with an interest of 12% per annum. What is the total amount o…

Erin wants to buy a new car. To do this, she takes out a loan of $24,000. The loan is to be repaired in seven years with an interest of 12% per annum. What is the total amount o…
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Erin wants to buy a new car. To do this, she takes out a loan of $24,000. The loan is to be repaired in seven years with an interest of 12% per annum. What is the total amount of interest she pays?

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User Rmaxx
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1 Answer

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Hi! Erin will end up paying a total of $20,160 in interest over the seven-year term of the loan.
answered
User Venkat Ch
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8.4k points
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