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You take out a simple interest loan for the remaining balance ($8004) of the car at a 5% interest rate per year for 6 years. How much interest will you have paid after 6 years?<…

You take out a simple interest loan for the remaining balance ($8004) of the car at a 5% interest rate per year for 6 years. How much interest will you have paid after 6 years?<…
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You take out a simple interest loan for the remaining balance ($8004) of the car at a 5% interest rate per year for 6 years. How much interest will you have paid after 6 years?

User Ericbn
by
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1 Answer

2 votes
when i’m doing percentages i like to divide by 100.
8004 / 100 = 80.04
80.04 x 6 = $480.24
User Farzad Kamali
by
8.0k points
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