You just bought a car and borrowed 15000 for 5 years at 8


You just bought a car and borrowed $15,000 for 5 years at 8% APR. Using the simple interest method; by the time you pay off this loan your total finance costs will be closest to which of the following?

$3,249

$1,200

$3,784

$6,000

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Financial Management: You just bought a car and borrowed 15000 for 5 years at 8
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