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12 April, 20:47

Alisha has a five-year car Loan of $15,000 with an interest rate of 6 percent. If the interest is compounded annually, how much will she pay in total for her car

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  1. 12 April, 23:48
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    I think it is like this:

    A=P{1 + (r/n) } ^ nt

    A = 15000{1 + (0.06/1) } ^ 1*5

    A = $20,073.38
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