chylyfe76 chylyfe76

11-04-2021
Mathematics

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Jim buys a car for $22,500. He decides to finance through the dealership at 3.5% simple interest for 5.5 years. How much interest will he pay? What is the loan Jim will pay over the course of the 5.5 years?

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melissaspears7oyehn0 melissaspears7oyehn0

11-04-2021

Answer:

4,331.25 in interest

Step-by-step explanation:

22,500.00x3.5%=787.50x5.5=4,331.25

22,500.00+4,331.25=26,831.25 total loan

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