jake buys a new car that costs $15,000 he borrowed from the bank with 3.5% compound interest per year. If it takes 7 years to pay off the loan, how much will he have paid for the car?

Question

thongdat2 · Answer

Answer:    NVM MY ANSWER IS WRONG ITS INTEREST NVM SRRY     Step-by-step explanation:   you can solve this by doing I=PRT  I=Interest (total which is  P= Principle ($15,000)  R= Rate (3.5% which turns to 0.35 bc you turn it into a decimal)  T= Time (7 years)     Once they are identified you mulitply them together:  (15,000)(0.35)(7)= 36,750     I am sure that's the answer I'm sorry if I am wrong but I did this at the beginning of the year and got a 100% on my test so it should be correct! :)

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