300
John borrowed $5,000 from the bank to make a down payment on a car. The bank charged 12% simple interest on the loan for three years.
A) How much interest did John have to pay?
B) What was the final amount John gave to the bank?
PART A:
I = Prt
I = 5000 x 0.12 x 3
I = $1800
PART B:
5000 + 1800 = $6,800