Ask Question
4 June, 19:47

Alisha gas 15000 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 anount = P (1 + i) ^t

+4
Answers (1)
  1. 4 June, 20:14
    0
    This is a "compound amount" calculation.

    A = P (1+r) ^t, where P=principal, r=rate as a decimal fraction, and t = time in yrs.

    Here, A = $15000 (1+0.06) ^5 = $20073.38 (includes repayment of that

    $15000 loan and compound interest

    $50073.38)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Alisha gas 15000 car loan with a 6 percent interest rate that is compounded annually. how much will she have paid at the end of the five ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers