Sal borrowed $20,000 to buy a new speed boat. The interest rate on the loan is 5%. He'll pay it back in 3 years. What will be the total amount he will pay for the boat, including interest?

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asked Mar 26, 2021 96.1k views

1 vote

Sal borrowed $20,000 to buy a new speed boat. The interest rate on the loan is 5%. He'll pay it back in 3 years. What will be the total amount he will pay for the boat, including interest?

Mathematics
high-school

Zioalex asked

by Zioalex

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7 votes

Answer:

4,000 dollars i think

Explanation:

because in this case you have have to divide and multiply 20/5 and 4x5

Tigrou answered Mar 30, 2021

by Tigrou

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