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An amount of $24,000 is borrowed for 9 years at 6.75% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back? Use the calculator provided and round
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An amount of $24,000 is borrowed for 9 years at 6.75% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be

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

User Vadzim Savenok
by
4.9k points

1 Answer

14 votes

38,580 is the full amount of what he has to pay back

User Ajit Panigrahi
by
4.4k points
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