A finance company offers a promotion on $6000 loans. The borrower does not have to...
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Finance
A finance company offers a promotion on $6000 loans. The borrower does not have to make any payments for the first three years, however interest will continue to be charged to the loan at 29.6% compounded continuously. What amount will be due at the end of the three year period, assuming no payments are made? (Round your answer to the nearest cent.) $ 14581.59 Correct: Your answer is correct. If the promotion is extended an additional two years, and no payments are made, what amount would be due? (Round your answer to the nearest cent.)
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