ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Carina is borrowing $27, 000 to buy a new car. If she borrows the money at 4.15% interest compounded annually for 5 years, how much interest will she pay on her car loan?
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$1, 120.50
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$5, 602.50
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$6, 087.21
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$33, 087.21
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Explanation:
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