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Alisha has a 15000 car loan with 6 percent interest rate that is compounded annually how much will she have paid at the end of the five year loan term

Alisha has a 15000 car loan with 6 percent interest rate that is compounded annually how much will she have paid at the end of the five year loan term
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Alisha has a 15000 car loan with 6 percent interest rate that is compounded annually how much will she have paid at the end of the five year loan term

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User Lethal
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1 Answer

4 votes
A=p(1+r)^t
A=15,000×(1+0.06)^(5)
A=20,073.38
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User Generalpiston
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7.6k points
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