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you owe 8000 on a motorcycle loan the bank charges a compound interest rato 10.9% poor per year per year if you don't make any payments on the loan how much will you owe after 5 years round to your nearest
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Nov 3, 2016
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you owe 8000 on a motorcycle loan the bank charges a compound interest rato 10.9% poor per year per year if you don't make any payments on the loan how much will you owe after 5 years round to your nearest whole cent
Mathematics
high-school
Mathieu De Lorimier
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Mathieu De Lorimier
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I=P(1+(r/n))^nt
I is the value owed
r is the rate in a decimal
n is the times compounded (annually =1, quarterly =4, monthly =12 etc.)
t is time invested
I=8000(1+(.109/1))^5x1
I=8000(1.109)^5
I=8000(
1.67748)
$13419.84
Lareina
answered
Nov 9, 2016
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Lareina
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