Mary bought a red convertible for $14,000. She paid $1,000 down and borrowed the rest on a one year note at 15% interest. How much will she owe at the end of one year?

Question

anonymous · Answer

well if she doesnt make any payments for that whole year it would get repoed..lol but for sake of question 14000-1000=13000
13000(.15)=1950 so 13000+1950=$14950 by end of year

anonymous · Answer

thats what i thought it was but i wasnt sure at first thank u bunches

anonymous · Answer

no problem! :)