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 $19,500.25
6 percent intrest per year for 5 years I think is the same as 30 percent for 5 years so $15,000 x .3 is $4500 $15,000 + $4500 = $19,500 not 100 percent sure if this is correct but I think its right. Sorry if I am wrong not 100% sure.
