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You want to buy a new car. The bank offers you a loan for $30,000 at a 3% interest rate. You are willing to pay $4,500 in interest over the life of the loan. In how many years must you pay off the loan
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May 10, 2024
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You want to buy a new car. The bank offers you a loan for $30,000 at a 3% interest rate. You are willing to pay $4,500 in interest over the life of the loan. In how many years must you pay off the loan to meet your goal?
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In 5 years you must pay off the loan
Timon De Groot
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May 16, 2024
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Timon De Groot
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