Mathematics, 24.09.2019 13:50 luiggie

3. you purchase a car using a $20,000 loan with a 5% simple interest rate.
(a) suppose you pay the loan off after 4 years. how much interest do you pay on your loan? show your work.
(b) suppose you pay the loan off after 2 years. how much interest do you save by paying the loan off sooner? show your work.

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3. you purchase a car using a $20,000 loan with a 5% simple interest rate.
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