Ivan borrowed $8000 at a rate of 7%, compounded quarterly. Assuming he makes no payments, how much will he owe after 5 years?

Do not round any intermediate computations, and round your answer to the nearest cent.

Mark M. answered • 05/11/21

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A = 8000(1 + 0.07/4)⁽⁴⁾⁽⁵⁾

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