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Alicia borrowed $15,000 to buy a car. She borrowed the money at 8% for 6 years. How much will she have to pay the bank at the end of the 6 years?
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Alicia borrowed $15,000 to buy a car. She borrowed the money at 8% for 6 years. How much will she have to pay the bank at the end of the 6 years?

User Veote
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2 Answers

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I got the answer of 200 because she borrowed 15,000 and she borrowed the money for 8% which is equal to .08 for 6 years so then you divide it by 6 and get 200 but If someone gets something else please correct me.
User Flpe
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A=15,000×(1+0.08×6)=22,200

User Anica
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