Chara201x
contestada

Elizabeth received a car loan for $12,000. She was charged 8% for the bank fees. What is the total amount that she will need to pay the bank back for the loan?

Respuesta :

First, you have to turn the 8% into a decimal which will be .08 then you have to multiply $12,000 times .08 and your answer is $960
shubhamchouhanvrVT

$12960 wiil be  the total amount that she will need to pay the bank back for the loan.

What is loan?

Loan a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.

Here Car Loan is $12000 at the interest 8%

So The interest will be

[tex]=12000\times \dfrac{8}{100}=$960[/tex]

Total amount will be

[tex]T=12000+960=$12960[/tex]

Hence $12960 wiil be  the total amount that she will need to pay the bank back for the loan.

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