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X 1.5. MR-9 Thang decided to borrow $7000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 7%. How much interest will Thang pay? Thang will pay $ interest.
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X 1.5. MR-9 Thang decided to borrow $7000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 7%. How much interest will Thang pay? Thang will pay $ interest.

User Cuiboy
by
5.0k points

1 Answer

4 votes

7% of $7000 is


(7)/(100)*7000=490

Hence, Thang will pay $490 interest.

User PyKing
by
4.6k points
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