rate of 7.25%. How much will she have to pay at the end of 8 years? *

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
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Lenny Robredo takes out a $30000 loan for
her new Honda Civic. She will pay back the
entire loan at the end of 8 years. It is a
compound interest loan with an interest
rate of 7.25%. How much will she have to
pay at the end of 8 years? *
O $17400.00
O $30725.00
O $2351982.31
O $52516.97
Transcribed Image Text:Lenny Robredo takes out a $30000 loan for her new Honda Civic. She will pay back the entire loan at the end of 8 years. It is a compound interest loan with an interest rate of 7.25%. How much will she have to pay at the end of 8 years? * O $17400.00 O $30725.00 O $2351982.31 O $52516.97
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