Question

Alisha has a five-year car loan of $15,000 with an interest rate of 6 percent. If the interest is compounded annually, how much will she pay in total for her car?

Answer 1

P = Po(1+r)^n

n = 1comp./yr * 5yrs = 5 compounding
periods.

P = 15000(1.06)^5 = $20,73.38

Answer 2

idk I need the help so y does this not help me at all because I dont know how to answer