Thang decided to borrow $5000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 9%. How much interest will Thang pay?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Oct 5, 2023 200k views

13 votes

Thang decided to borrow $5000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 9%. How much interest will Thang pay?

Mathematics
high-school

Manveru asked

by Manveru

3.7k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

8 votes

Answer:

$1350

Explanation:

Simple Interest = Deposit ×Rate/100×Time

SI=5000×9/100×3

=$1350

Blagus answered Oct 11, 2023

by Blagus

3.2k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.6m questions

4.6m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions