Suppose that a loan of $8000 is given at an interest rate of 16% compounded each year. Assume that no payments are made on the loan. Follow the instructions below. Do not do any rounding ?

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asked Jun 11, 2021 85.6k views

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Suppose that a loan of $8000 is given at an interest rate of 16% compounded each year.

Assume that no payments are made on the loan.
Follow the instructions below. Do not do any rounding ?

Mathematics
college

Tashana asked

by Tashana

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5 votes

Answer:

9280

Explanation:

8000 x .16 + 8000

Abidibo answered Jun 17, 2021

by Abidibo

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