John Buys a Car for $20 000 on Kia Finance

Question 98
Multiple Choice

John buys a car for $20 000 on Kia finance with a simple interest of 5.99%.After one month he pays off the Kia finance using his secured line of credit which charges him 4% simple interest.He pays off the line of credit in 11 months.How much did he pay in total? A)$20 737 B)$20 837 C)$20 733 D)$20 800 E)$21 198