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5 votes
Please answer fast and with a short answer

An amount of $43,000 is borrowed for 13 years at 3% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be
paid back?
Use the calculator provided and round your answer to the nearest dollar

User Erwan
by
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1 Answer

4 votes

Answer:

=$61,472.00

Explanation:

$18,472.00 of interest

+

43,000 borrowed

=$61,472.00

User Umesh Rajbhandari
by
5.2k points