If Pat borrows $12,000 to buy a car. The total cost of the car is: D)$14,340.
Total cost
First step
Using this formula
Interest=Principal×Rate×Time
Let plug in the formula
Interest=$12,000×3×6.5%
Interest=$2,340
Second step
Total cost=Principal +Interest
Total cost=$12,000+$2,340
Total cost=$14,340
Therefore the correct option is D.
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