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You purchase a car using a $18,000 loan with a 5% simple interest rate. Suppose you pay the loan off after 3 years. How much interest do you pay on your loan?

Respuesta :

SterlingSims

Answer: $2,700

Step-by-step explanation:

$18,000 times 5% = 900

900 times 3 is 2,700

Therefore your answer will be 2,700

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