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Tanetta buys a truck for $24,600 with a 4% annual interest rate over 6 years in a loan where interest is compounded monthly. What is true about this loan?

Tanetta buys a truck for $24,600 with a 4% annual interest rate over 6 years in a loan where interest is compounded monthly. What is true about this loan?
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5 votes
Tanetta buys a truck for $24,600 with a 4% annual interest rate over 6 years in a loan where interest is compounded monthly. What is true about this loan?

User ARLabs
by
7.0k points

1 Answer

5 votes

Answer:

$4618.44

Explanation:

User Luc Wollants
by
7.8k points
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