Question

an investment out a 48 month loan $5 200 to buy a used motorcycle. if the simple interest ratebis 8.5%, how much will he have paid in total at the end of the loan?

Answer 1

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Answer 2

Total paid is $5,200 + $1,768 = $6,968.

Explanation:

Interest = $5,200 x 8.5% * 4 = $1,768