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An amount of $37000 is borrowed for 7 years at 6.75% interest, compounded annually. if the loan is paid in full at the end of that period, how much must be paid back?

An amount of $37000 is borrowed for 7 years at 6.75% 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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An amount of $37000 is borrowed for 7 years at 6.75% interest, compounded annually. if the loan is paid in full at the end of that period, how much must be paid back?

User SyntaxError
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The answer would be 17482.5 because you would multiply 37000 by .0675 then after you get that answer you would multiply it by 7.
User Buddhima Gamlath
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