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Alicia borrowed 15000 to buy a car. She borrowed the money at 8% for 6 years. What is the interest she will pay for the loan

User Htzfun
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1 Answer

6 votes
The answer is $7,200

Why? So you have to use I=prt (Intrest=principle*rate*time) and were trying to find the interest so it stays as 'I' but we have the other numbers so it'd be I=15,000*.08*6 (8% is .08 because the rate must be in decimal or fraction form). Solve it and your answer should be I= 7,200.
User Sameera Nandasiri
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