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blumeyg
blumeyg blumeyg
  • 18-01-2017
  • Mathematics
Answered

Jimmy owes $29,500 for a car loan to be repaid in 36 months. If the interest rate is 7.375%, then how much interest will he pay

Verified Answer :

melhunt99
melhunt99 melhunt99
  • 18-01-2017

I=PRT. Sub in what you know: I=29,500(.07375)(3) time is in years. Multiply: I=6526.875. Round to the nearest hundredth: $6,526.88 is his interest :)

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