Martin wants to buy a new car. The price of the car is $28,249. If Martin gets a bank loan with a simple interest rate of 3.49% what will be the final cost of the car after 5 years?

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asked Apr 2, 2021 150k views

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Martin wants to buy a new car. The price of the car is $28,249. If Martin gets a bank loan with a simple interest rate of 3.49% what will be the final cost of the car after 5 years?

Mathematics
middle-school

Mirdrack asked

by Mirdrack

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Answer:

The final cost is 28249*(1+3.49/100)^5=33534.74

Stompchicken answered Apr 9, 2021

by Stompchicken

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