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Alisha has a $15,000 car loan with a 6 percent interest rate that is compounded annually. How much will she have paid at the end of the five-year loan term? total amount = P (1 …

Alisha has a $15,000 car loan with a 6 percent interest rate that is compounded annually. How much will she have paid at the end of the five-year loan term? total amount = P (1 …
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3 votes
Alisha has a $15,000 car loan with a 6 percent interest rate that is compounded annually. How much will she have paid at the end of the five-year loan term? total amount = P (1 + i)t

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User Dkulkarni
by
9.0k points

2 Answers

6 votes

Answer:

A=15,000×(1+0.06)^(5)

A=20,073.38

Explanation:

answered
User Vinayak Agarwal
by
8.4k points
5 votes
A=15,000×(1+0.06)^(5)
A=20,073.38
answered
User ErikEJ
by
8.4k points
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