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?
1 answer:
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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Step-by-step explanation:
Can you rephrase the question.
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