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4 September, 17:57

A credit union loans a member $5,000 for the purchase of a used car. the loan is made for 18 months at an annual simple interest rate of 6.9%. what is the maturity value of the car loan?

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  1. 4 September, 18:08
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    I=PTR

    I=5000*1.5*6.9%=517.50

    Interest = $517.50
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