America paid 3% interest on a $3900 car loan for 5 years. How much interest did she pay on her car loan?

If America paid 3% interest for a year

At simple interset ,

FV = Pv(1 + it)

FV = Future value

Pv = present value

i = interest rate

t= time

FV = Pv(1 + it)

    = $3900( 1+ 0.03 x 5)

      = $4485

FV = PV + interest

FV - PV =  interest

$4485 - $3900 = interest

interest = $585

Step-by-step explanation:

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step-by-step explanation:

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step-by-step explanation:

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