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Today at 9:40 PM
Mathematics

Answered

An amount of $45,000 is borrowed for 9 years at 3.5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be
paid back?
Use the calculator provided and round your answer to the nearest dollar.
|x
o
?

Answer :

Jenner1256 Jenner1256

Today at 9:45 PM

I = prt... I = (45000)(.035)(9) = $14,175
So 45,000+14175 = $59,175 must be paid back

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