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Mathematics

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Two customers took out automobile loans.
-Katy took out a 5-year loan for $18,000 and paid 7.00% annual simple interest.
-Frank took out a 6-year loan for $18,000 and paid 6.00% annual simple interest.
What is the difference between the amounts of interest Katy and Frank paid for their loans?

A. $180
B. $240
C. $300
D. $360

Answer :

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Answer:

A. $180

Step-by-step explanation:

18000*5*7/100 =6300

18000*6*6/100=6480

6480-6300=180

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