Question

Nick buys a car for $15,000. He gives the car dealer $5,000 and borrows the rest of the money at 7% simple interest for 5 years. What is the total amount of interest he will have to pay on the loan?

Answer 1

Answer: $3,500

Step-by-step explanation: 15000-5000=10000

0.7*10,000=700.

700*5=$3,500