Question

Let me explain it to you frost

Answer 1

The initial cost of car is P = 27996

The rate percent is r = 5%

The time is t = 5 years

The formula for the intrest on the car is,

`I=(P\cdot r\cdot t)/(100)`

Substitute the values in the formula to determine the intrest on the car for 5 years.

`\begin{gathered} I=(27996\cdot5\cdot5)/(100) \\ =6999 \end{gathered}`

The final amount of car after 5 years is sum of intrest on car and initial cost of car. So cost of car after 5 year is,

`\begin{gathered} A=27996+6999 \\ =34995 \end{gathered}`

So cost of car after 5 years is 34995.