Question 1149464
{{{ I = P*r*t }}}
{{{ I + P = P*( 1 + r*t ) }}} ( He will pay interest + principle over 6 yrs )
{{{ I + 24000 = 24000*( 1 + .03*6 ) }}}
{{{ I + 24000 = 24000*1.18 }}}
{{{ I + 24000 = 28320 }}}
He ends up paying $28,320.00