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An amount of $25,000 is borrowed for 11 years at 3.5% Interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back

An amount of $25,000 is borrowed for 11 years at 3.5% Interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back
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An amount of $25,000 is borrowed for 11 years at 3.5% Interest, compounded annually. If the loan is paid in full at the end of that period, how much must be

paid back

User Stereo
by
7.6k points

1 Answer

1 vote

Answer:

Around 300k, I recommend to pay it off ASAP

User Syed Aslam
by
7.0k points
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