Question

Alisha has a $15,000 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 amount = P (1 + i)t

Answer 1

A=15,000×(1+0.06)^(5)

A=20,073.38

Explanation:

Answer 2

A=15,000×(1+0.06)^(5)
A=20,073.38