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Tom purchased a new car for $45,000. He took a loan out for the whole $45,000.00 at 5 1/2% for 6 years. How much will the total loan cost after the 6 years?

Tom purchased a new car for $45,000. He took a loan out for the whole $45,000.00 at 5 1/2% for 6 years. How much will the total loan cost after the 6 years?
asked 156k views
3 votes
Tom purchased a new car for $45,000. He took a loan out for the whole $45,000.00 at 5

1/2% for 6 years. How much will the total loan cost after the 6 years?

asked
User Rendel
by
7.5k points

1 Answer

5 votes

Answer:

Explanation:

45,000*
100.5^(6)

= 46,366.99

answered
User Vishnumanohar
by
8.2k points
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