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

Select one of the options below as your answer:



A.
$19,500.25




B.
$15,900.50




C.
$20,073.50

Answer 1

the answer is C.