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An amount of $35,000 is borrowed for 6 years at 4.5% 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 $35,000 is borrowed for 6 years at 4.5% interest, compounded annually. if the loan is paid in full at the end of that period, how much must be paid back?

User James Smith
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1 Answer

6 votes
Answer: $45579.10
35000(1+.045)^6
Hope this helps!!!!!!!!!!!!!!
User Xiao Luo
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