## Alicia borrowed $15,000 to buy a car. She borrowed the money at 8% for 6 years. How much will she have to pay the bank at the end of the 6 y

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Answer:Kamala borrowed Rs 26,40026,400from a Bank to buy a scooter at a rate of 15%15%p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan? (Hint: Find A for 2 years with interest is compounded yearly and then find SI on the 2nd year amount for 412412years).

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