Farrah borrows $18,000 to purchase a new car. The annual interest rate for the 60-month loan is 4.3%. If she makes all the monthly payments, what is the total amount of interest she will pay on the loan? O $396.22 O $333.94 O $3,870.00 O $2,036.39

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
icon
Related questions
Question
100%
Farrah borrows $18,000 to purchase a new car. The annual
interest rate for the 60-month loan is 4.3%.
If she makes all the monthly payments, what is the total amount of
interest she will pay on the loan?
O $396.22
O $333.94
O $3,870.00
O $2,036.39
Transcribed Image Text:Farrah borrows $18,000 to purchase a new car. The annual interest rate for the 60-month loan is 4.3%. If she makes all the monthly payments, what is the total amount of interest she will pay on the loan? O $396.22 O $333.94 O $3,870.00 O $2,036.39
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University