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Kevin borrowed $8000 at a rate of 9.5%, compounded quarterly. Assuming he makes no payments, how much will he owe after 6 years? Do not round any intermediate computations, and …

Kevin borrowed $8000 at a rate of 9.5%, compounded quarterly. Assuming he makes no payments, how much will he owe after 6 years? Do not round any intermediate computations, and …
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Kevin borrowed $8000 at a rate of 9.5%, compounded quarterly. Assuming he makes no payments, how much will he owe after 6 years? Do not round any intermediate computations, and round your answer to the nearest cent.

User Talha Abrar
by
7.8k points

1 Answer

3 votes
8000x10.5=8400
400x6=2400
He will owe $2400
User Ligi
by
8.6k points
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