Lucy took out a $15,000 to buy her new car. The bank charged her 8% simple interest rate for the term of 5 years. What is the ending balance Lucy needs to pay at the end of 5 years?

Step-by-step explanation:

This problem is on simple interest calcultion

A=P(1+r*n)

 where

A=accumulated amount (final)

P= principal amount (initial), $15,000

r=interest written as decimal, 8% = 8/100= 0.08

n=number of years, 5years

Substituting into the expression we have

A=15000(1+0.08*5)

A= 15000(1+0.4)

A=15000(1.4)

A=$21000

y= -

“a term can be a signed number, a variable, or a constant multiplied by a + sign or j sign. in , the terms are 5x , 3y and 8. when a term is made up of a constant multiplied by a variable or variables, that constant is called a coefficient.” i hope this you.