An amount of

$27,000
is borrowed for
6
years at
8.25%
interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

3 answers

i = .0825
n = 6

amount = 27000(1.0825)^6
= .....

jydtg

778

Ask a New Question or answer this question.

Similar Questions

What are the compound amount and interest at the end of three years if bire 10,000 borrowed at annually interest rate of 8% A
1. 1 answer
what are the compound amount and compund interest at the end of three years if birr 10,000 is borrowed at annual interest rate
1. 1 answer
What are the compound amount and compound interest at the end of three years if birr 10,000 is borrowed annual interest rate 8%A
1. 2 answers
Suppose that $90 comma 000 is invested at 5% interest. Find the amount of money in the account after 9 years if the
1. 1 answer