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1. 1. Wanda took out a personal loan for $16,000 at 9% simple interest. a. A. How much interest will she pay after 5 years? B. Suppose she pays off the loan in 3 years instead of 5 years. How much money
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1. 1. Wanda took out a personal loan for $16,000 at 9% simple interest. a.

A. How much interest will she pay after 5 years?

B. Suppose she pays off the loan in 3 years instead of 5 years. How much money will she save in interest?

User Dhokas
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16000x9%x5 is $7200 #1 is $7200
16000x9%x3 is $2400 soo 7200-2400 is 4800 sooo
#1 is $7200
#2 is he or she will save $4800
User Paulo Schreiner
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User Napseis
asked Feb 27, 2018 175k views
Wanda took out a personal loan for $16,000 at 9% simple interest how much interest will she pay after 5 years?
Napseis asked Feb 27, 2018
by Napseis
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