Genia H.
asked • 08/04/19An amount of 36000 is borrowed for 6 years at 8% 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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1 Expert Answer
Michael P. answered • 08/06/19
Tutor
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Corporate Professional experienced in English, Math, Interview Prep.
A = P(1 + r/n)^(nt)
A = 36000(1 + .08)^6
A= 
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Taurance H.
An amount $41,000 of is borrowed for years at 7% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?03/30/21