Register
An amount of $41,000 is borrowed for 7 years at 7.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?
101k views
2 votes
An amount of $41,000 is borrowed for 7 years at 7.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

User Muthu Kumaran
by
3.2k points

1 Answer

5 votes
I=prt
I= 41,000 * 0.075 * 7
41,000 * 0.075 * 7 = 21,525
Answer= 21,525
User Kross
by
3.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.4m questions

4.3m answers

Other Questions

A study was completed in Florida. In southern Florida, the study involved 3,000 patients; 54% of them experienced flulike symptoms during the same month. The study had a margin of error of 1.8%. What does
Can someone help me plz I have to Turn 27/9 in simplest
The sanchez family goes out for dinner, and the price of the meals is $60. The sales tax on the Meals is 7 percent, and they also want to leave a 15 percent tip. What is the total cost of the meal? Analyze
Simplify: 10 ÷ [(5 + 2) − 5]
WHAT IS 33 TIMES 5 TELL ME THE ANWER
Link Copied!