An amount of
$20,000
is borrowed for
13
years at
5%
interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?
1 answer
20000 * 1.05^13
$20,000
is borrowed for
13
years at
5%
interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?
1 answer