Question

Help please

Karina wants to buy a jet ski from Wacky Water Sports. She is going to buy the jet ski during a Memorial Day Special. With the discount, the jet ski will cost $2925. She needs to get a loan from their finance department. They offered her a simple interest loan at a rate of 6.5%. The length of the loan will be 48 months. How much will she spend in interest for the jet ski loan? Show work

Answer 1

so the jet ski costs 2925, she'll get a loan for 48 months, well, keeping in mind that there are 12 months in a year, 48 months is really 48/12 years, namely 4 years.

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