Question

Irving purchase a car for $5,000 his interest rate is 10% for the year how much will he pay in one year's time​

Answer 1

$500

Step-by-step explanation:

The cost of the car is $5000

the interest is 10% per year

the interest paid in one year time will be

I= p x r x t

p = $5000; r =10% or 0.1 ;and t = 1

I = $5000 x 0.1 x 1

I= $500 x 1

Interest payable in one year is $500