Question

Darious the Dot Dude is taking out a

$10,000 loan to buy a car.
His choices for the loan are a
5 year loan at 3% simple interest or a
6 year loan at 4% simple interest.
What is the difference in the amount of interest
Darious would have to pay for each of these two loans?

Answer 1

10000/100 X 3= 300

300 X 5 = 1500

10000/100 X 4 = 400

400 X 6 = 2400

2400 - 1500 = 900