juleane2001 juleane2001

25-01-2019
Mathematics

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Alicia borrowed 15000 to buy a car. She borrowed the money at 8% for 6 years. What is the interest she will pay for the loan

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Bananas4bananas Bananas4bananas

25-01-2019

The answer is $7,200

Why? So you have to use I=prt (Intrest=principle*rate*time) and were trying to find the interest so it stays as 'I' but we have the other numbers so it'd be I=15,000*.08*6 (8% is .08 because the rate must be in decimal or fraction form). Solve it and your answer should be I= 7,200.

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