Dario borrows \( \$ 12,000 \) to buy a car. He borrows the money at a yearly, or annual, simple interest rate of \( 4.2 \% \). How much more interest will Dario owe if he borrows the money for 5 years instead of 1 year?

To find the interest owed for 5 years, we can use the formula for simple interest \( I = P \times r \times t \), where \( I \) is the interest, \( P \) is the principal amount, \( r \) is the rate (in decimal), and \( t \) is the time in years. For 1 year: \[ I = 12000 \times 0.042 \times 1 = 504 \] For 5 years: \[ I = 12000 \times 0.042 \times 5 = 2520 \] Now, we can find how much more interest Dario will owe if he borrows the money for 5 years instead of 1 year: \[ 2520 - 504 = 2016 \] So, Dario will owe an additional \( \$ 2016 \) in interest if he borrows the money for 5 years.