Mari has just made her last payment on her car. The lifetime of the loan was 36 months. The bank financed her for 15 dollars comma 000 at 6 point 7 1 percent How much did Mari actually pay, after she made her last payment, for the car?

Use the monthly loan rate, 6.71% ÷ 12 = 0.0055917, in the fixed-payment loan formula. For a $15,000 loan over 36 months, the monthly payment is about $461.17; multiplying by 36 gives about $16,602.12 in total payments. So Mari actually paid $16,602.12, choice D.

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