Gael has a car loan for $34,570. This loan has a simple interest rate of 3% per year. What is the amount of interest Gael will be charged on his car loan at the end of 5 years?

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asked Apr 25, 2022 130k views

2 votes

Gael has a car loan for $34,570. This loan has a simple interest rate of 3% per year. What is the amount of interest Gael will be charged on his car loan at the end of 5 years?

Mathematics
middle-school

Jacob Lyles asked

by Jacob Lyles

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2 Answers

4 votes

5185.5
Workin on in class

Duncanwilcox answered Apr 27, 2022

by Duncanwilcox

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3 votes

Answer:

5185.5

Explanation:

I=PRT

I=$34570×0.03×5

=5185.5

Tudor Lozba answered Apr 29, 2022

by Tudor Lozba

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