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25-09-2016
Mathematics

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a credit union loans a member $5,000 for the purchase of a used car. the loan is made for 18 months at an annual simple interest rate of 6.9%. what is the maturity value of the car loan?

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revemar revemar

25-09-2016

I=PTR
I=5000*1.5*6.9%=517.50
Interest= $517.50

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