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 and don’t forget the unit!
(b) suppose you pay the loan off after 3 years. how much interest do you save by paying the loan off
sooner? show your work and don’t forget the unit.
a) b)

The answer is A) I=prt; I=20,000(.05)(4) = $4000 b) I = prt; I = 20,000(.05)(2) = $2000 $4000-$2000 = $2000. You save $2000 by paying it off in 2 years vs. 4 years

This is what i found “an explicit formula designates the nth term of the sequence, as an expression of n (where n = the term's location). it defines the sequence as a formula in terms of n. this example is an arithmetic sequence(the same number, 5, is added to each term to get to the next term).” i hope this you for what your looking for. can you plz mark me brainliest?

Ithink if ur looking for a ratio it would be 12: 3