Question

20) Laila borrowed $9000 from a bank that

charges an interest rate of 7.2%
compounded annually. How much will she
pay back in total on a 4 year loan?
LAPU int *nt are in an
exponent* Show all work. Type in answer.

Answer 1

the answer i think is $259200

Explanation:

if the bank charges 7.2% every year, and in this case it's 4 years, then that would mean it would be 28.8%(7.2 x 4), which means the answer would be 9000 x 28.8 which is 259200.

Hope it helped