Mathematics, 26.06.2019 23:00 ConnorRecck3140
Troy is buying a car that costs $15,000. he plans to get a 5-year loan to pay for it. he can get a loan for $15,000 or he can pay $3,000 from his savings account and get a loan for the rest. the savings account pays 2% simple interest per year. the simple interest rate for the loan is 0.5% per year. a) how much interest over a 5-year period will troy receive on his $3,000 if he does not withdraw that money from his savings account? b) how much more interest will he pay to borrow $15,000 than $12,000? why is the $15,000 option reasonable?
Answers: 1
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Troy is buying a car that costs $15,000. he plans to get a 5-year loan to pay for it. he can get a l...
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