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liberstina [14]
3 years ago
10

A credit union loans a member $6,000 for the purchase of a used car. The loan is made for 15 months at an annual simple interest

rate of 5.9%. What is the maturity value of the car loan?
Mathematics
1 answer:
lina2011 [118]3 years ago
3 0
You will need the Total Loan Cost Formula which is
(I'm having trouble attaching the graphic - I think the problem is with Brainly).

If nothing else, go to this web page.
It has a calculator and the formula.
http://www.1728.org/loanfrm4.htm

I get an answer of  $6,238.70


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