SOLUTION: For a car loan using simple interest at a given​ rate, the amount of interest charged varies jointly with the loan amount​ (also known as the​ principal) and the
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Question 1040422: For a car loan using simple interest at a given rate, the amount of interest charged varies jointly with the loan amount (also known as the principal) and the time of the loan (in years). If a $10,000 car loan earns $1680 in simple interest over 6 years, how much interest will a $24,000 car loan earn over 7 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
1680/6=280
280/10000=0.028=2.8% per year
24000*0.028*7=4704
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