Donna borrowed $10, 500 at a simple interest rate of 4% for 3 years to buy her new car. How much interest would Donna pay and how much is the car altogether?

Donna borrowed $10,500 at a simple interest rate of 4% for 3 years to buy her new car. How much interest would Donna pay and how much is the car altogether ?

Principal = $10,500

Time = 3 years

Rate of interest = 4%

Interest of Donna and Total amount of car altogether.

We know,

I =

I =

I = $1260

Now,

Amount of the car = $ (10,500 + 1260)

= $11,760