shadalawashington
shadalawashington shadalawashington
  • 14-03-2021
  • Mathematics
contestada

An amount of $41,000 is borrowed for 7 years at 7.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

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alexandrite06c
alexandrite06c alexandrite06c
  • 14-03-2021
I=prt
I= 41,000 * 0.075 * 7
41,000 * 0.075 * 7 = 21,525
Answer= 21,525
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