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Chris takes out a loan for $8,500 to purchase a used car. He is going to pay the loan off over the next 72 months at a simple interest rate of 9.25%. How much will Chris pay in interest?
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Chris takes out a loan for $8,500 to purchase a used car. He is going to pay the loan off over the next 72 months at a simple interest rate of 9.25%. How much will Chris pay in interest?

User Cyberz
by
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1 Answer

2 votes

Answer:

Explanation:

I=PRT/100

I=8,500*72*9.25=5661000/100

I=56610.

User Thomas Solti
by
6.5k points
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