Question

thang decided to borrow 7000 from his local bank to help pay for a car. his loan was for 3 years at a simple interest rate of 5%. how much will thang pay in interest?

Answer 1

Haha Thang.

First thing ya do is convert 5% to a decimal, .05
Then you multiply it by the starting amount, which is 350
Then you multiply 350 times 3 since it's the interest for 3 years.
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