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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?
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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?

User Mirdrack
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1 Answer

1 vote

Answer:

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

User Stompchicken
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