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True or False: The simple interest owed on a car loan for $45,000 with an interest rate of 5.2% for 5 years is $15,700.

True or False: The simple interest owed on a car loan for $45,000 with an interest rate of 5.2% for 5 years is $15,700.
asked 219k views
4 votes
True or False: The simple interest owed on a car loan for $45,000 with an interest rate of 5.2% for 5 years is

$15,700.

asked
User Mathis
by
7.7k points

1 Answer

5 votes

Answer:

False

Explanation:

Interest = p r t

= $ 45 000 * .052 * 5 = $ 11700

answered
User Gmadar
by
9.1k points
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