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jeansa11:
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
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Mercury:
total amount = P(1 + i)^t P = principal = 15,000 i = interest = 0.06 t = time = 5 years plug in P, i, t into the formula and evaluate total amount
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