Question

An amount of $30,000 is borrowed for 5 years at 4.5% interest, compounded annually. If the loan is paid in full at the end of that period, how m

paid back?
Use the calculator provided and round your answer to the nearest dollar.

Answer 1

To solve this I think you have to multiply 30,000 dollars by 5 and 4.5. Once you do that round it to the nearest dollar