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The balance on a car loan after 4 years is $8,996.32. The interest rate is 5.6% compounding annually. What was the initial value of the loan?
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3 votes
The balance on a car loan after 4 years is $8,996.32. The interest rate is 5.6% compounding annually. What was the initial value of the loan?

User Arutaku
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1 Answer

3 votes
you would get 2015.17568 as the interest rate i believe 
User Shakti Chauhan
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