20
QuizMultiple Choice

Amortization

Question 20 • FT GMS AMDM B IC – 72

Mari has just made her last payment on her car. The lifetime of the loan was 36 months. The bank financed her for $15,000 at 6.71%. How much did Mari actually pay, after she made her last payment, for the car?

Answer
A
$15,000
B
$16,602.12
C
$17,001.20
D
$18,205.30
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