imple and compound Intere Maggie took out a car loan in the amount of $54,200. Her loan agreement says that she will pay the loan back in 2 years with a 15.1% interest rate compounded annually. How much will Maggie have paid for the car after 2 years?​

I dont know

Step-by-step explanation:

3.+.4.=3

4.+5.=6

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

there is no grid

step-by-step explanation: