Question

2) You borrowed $10,400 for 4 years at 12.7% and the interest is compounded semi- nnually. What is the total you will pay back?

Answer 1

$17,018.97

Explanation:

`A=P(1+(r)/(n))^(n*t) \\\\'\\A=10400(1+(.127)/(2))^(8)\\\\\\A= 17,018.97`