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Grandpa Simpson borrows $10,000 to buy a car. There is a 5 percent interest rate for each year. What is the total amount of interest he will have to pay after 4 years? I need to get it correct for school.
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Grandpa Simpson borrows $10,000 to buy a car. There is a 5 percent interest rate for each year. What is the total amount of interest he will have to pay after 4 years? I need to get it correct for school.

User MikG
by
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1 Answer

9 votes
$10,000 X 0.05 = $500/year
500 X 4 years = $2,000 after 4 years
User Metehan Toksoy
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9.2k points
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