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You want to buy a large toilet paper company, but you need to take out a loan to cover the cost. If you borrow $12,000 at a 3.5% interest rate, how much interest will you owe in…

You want to buy a large toilet paper company, but you need to take out a loan to cover the cost. If you borrow $12,000 at a 3.5% interest rate, how much interest will you owe in…
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You want to buy a large toilet paper company, but you need to take out a loan to cover the cost. If you borrow $12,000 at a 3.5% interest rate, how much interest will you owe in 5 years?

User Felix Lapalme
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8.1k points

1 Answer

10 votes

Answer: You will owe $1,098.06 in intrest.

User Rvabdn
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7.9k points
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