3. You purchase a car using a $20,000 loan with a 5% simple interest rate. (a) Suppose you pay the loan off after 4 years. How much interest do you pay on your loan? Show your work.
(b) Suppose you pay the loan off after 2 years. How much interest do you save by paying the loan off sooner? Show your work.

a) $4000

b) $2000

Step-by-step explanation:

a)

interest = Principal x rate as decimal x time

interest = 20,000 x 0.05 x 4

interest = 4000

b)

interest = Principal x rate as decimal x time

interest = 20,000 x 0.05 x 2

interest = 2000

you save $2000 if you pay after 2 years

x -

median = 1.25

range = 12-14.5

interquartile = q12-q14.5

y -

median = 1

range = 15-17

interquartile = q15-q17

plants store their excess carbohydrate in the form of starch so that it could be used as energy source later on. the excess carbohydrate is converted into starch in the plastid i.e. chloroplast & this process occurs in the presence of sunlight. it is an insoluble polymer of glucose which gets stored in cell organelles named as amyloplasts. in some plants, starch is also stored in roots and embryos.