es

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

An amount of \$29000 is borrowed for 15 years at 6.25% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

Solución

A n am o u n t o f $29000 i s b orro w e d f or 15 ye a rs a t 6.25% in t eres t, co m p o u n d e d ann u a ll y . I f t h e l o an i s p ai d in f u ll a t t h e e n d o f t ha t p er i o d, h o w m u c h m u s t b e p ai d ba c k ?

Solución

Amount : 71999.93

Pasos de solución

Translate the problem into an equation:

A = 29000 (1 + \frac{0.0625}{1})^{1 \cdot 15}

29000 (1 + \frac{0.0625}{1})^{1 \cdot 15} = 71999.93075 \dots

Redondear al más cercano hundredth:

71999.93

Amount : 71999.93

Ejemplos populares

The different of a number and three, divided by nine simplificar An item is regularly priced at \$45 . It is on sale for 20% off the regular price. What is the sale price The circunferencia of a circle is 25.12 feet. What is the circle's diameter?The sum of the ages of Josiah and Lynda is 117 years. 11 years ago, Josiah's age was 4 times Lynda's age. How old is Josiah now?triple the sum of a number and 7 is the same as 3 more than the number