Question

Thang decided to borrow ​$5000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 6​%. How much interest will Thang​ pay?

Answer 1

Thang borrows $5000 at a interest rate of 6% he will pay $300 dollars every year so a total of $900 dollars over a three year period. That is if he pays yearly.

Explanation: