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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 ?

User Tashana
by
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1 Answer

5 votes

Answer:

9280

Explanation:

8000 x .16 + 8000

User Abidibo
by
8.2k points
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