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clamin
 one year ago
PLEASE HELP!! MEDAL!!
You owe $10,000 on a car loan. The bank charges a compound interest rate of 9.5% per year. If you don't make any payments on the loan, how much will you owe after 3 years? Round your answers to the nearest whole cent.
a.$14,376.61
b.$13,129.32
c.$11,990.25
d.$12,246.83
clamin
 one year ago
PLEASE HELP!! MEDAL!! You owe $10,000 on a car loan. The bank charges a compound interest rate of 9.5% per year. If you don't make any payments on the loan, how much will you owe after 3 years? Round your answers to the nearest whole cent. a.$14,376.61 b.$13,129.32 c.$11,990.25 d.$12,246.83

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amistre64
 one year ago
Best ResponseYou've already chosen the best response.1compound the interest for 3 years ...

amistre64
 one year ago
Best ResponseYou've already chosen the best response.1since loans are usually periodic monthly; n=12

amistre64
 one year ago
Best ResponseYou've already chosen the best response.1im getting 13282 or so, so yeah .. b seems the slosest bet

amistre64
 one year ago
Best ResponseYou've already chosen the best response.113129 assumes that there is only one payment made per year ...

amistre64
 one year ago
Best ResponseYou've already chosen the best response.1not much of a difference tho in such a short time frame i spose
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