An amount of 22000 is borrowed for 7 years at 8.25 interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

Solución

Solución

Amount : 22008.25

Pasos de solución

Translate the problem into an equation:

A = 22000 + 8.25

Simplificar

A = 22000 + 8.25

Amount : 22008.25

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