Answer:
$17,500
Explanation:
To calculate the total cost of Amirrah's car loan, we need to consider the principal amount, the interest rate, and the loan term.
The principal amount is $15,000, the interest rate is 5%, and the loan term is three years.
First, let's calculate the total interest paid over the loan term. We can use the formula:
Total Interest = Principal Amount * Interest Rate * Loan Term
Total Interest = $15,000 * 0.05 * 3
Total Interest = $2,250
Now, let's calculate the total cost of the loan, which includes both the principal amount and the total interest paid.
Total Cost of Loan = Principal Amount + Total Interest
Total Cost of Loan = $15,000 + $2,250
Total Cost of Loan = $17,250
Therefore, the total cost of Amirrah's car loan is $17,250.