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3. If you took out a car loan for $22,000, with a rate of 2% compounded semi-annually over 5 years, how much are you going to owe at the end if you never pay a monthly payment. …

3. If you took out a car loan for $22,000, with a rate of 2% compounded semi-annually over 5 years, how much are you going to owe at the end if you never pay a monthly payment. …
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4 votes
3. If you took out a car loan for $22,000, with a rate of 2% compounded semi-annually over

5 years, how much are you going to owe at the end if you never pay a monthly payment.
a. $57,062.33
b. $24,301.69
C. $24,289.78
d. $24,307.70

asked
User MMeah
by
7.6k points

2 Answers

14 votes
The answer: C. 24,289.78
Hope this helps
answered
User Wajahath
by
7.3k points
11 votes

Answer:

c.

Explanation:

it's been a while since I've done this but I'm about 90% sure

answered
User Torsten Robitzki
by
8.4k points
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