Julia takes a car loan of $5,000 at a simple interest rate of 6% per annum. If she plans to pay back the loan in 3 years, what will be the total interest and the amount she will owe at the end of 3 years?

Name: Revolt
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Question

Revolt · Accepted Answer

Interest: $900, Total Owed: $5,900

Practice Exam

Julia takes a car loan of $5,000 at a simple interest rate of 6% per annum. If she plans to pay back the loan in 3 years, what will be the total interest and the amount she will owe at the end of 3 years?

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