Register
you borrow $500 from a local bank to purchase your first car. the Loan has a rate of 12% simple interest. if you do not make any payments that year, how much interest will you owe at the end of the year
156k views
5 votes
you borrow $500 from a local bank to purchase your first car. the Loan has a rate of 12% simple interest. if you do not make any payments that year, how much interest will you owe at the end of the year

User Soully
by
9.0k points

1 Answer

7 votes
it would be $567.20 at the end of the year
User Jon Eastwood
by
8.0k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
Link Copied!