Question

Clarke borrows 16,000 dollars to buy a car he pays simple interest at an annual rate of 6 % over a period of 3.5 years how much does he pay all together

Answer 1

c = 16000
i = 6% aa
t = 3,5 a
j = cit/100
j = 16000*3,5*6 / 100
j = 160*3,5*6
j = 3360
montante:
M = c+j
M = 16000 + 3360
M = 19360