SOLUTION: An amount of $48,000is borrowed for 13 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?
Use the calc
Algebra.Com
Question 932297: An amount of $48,000is borrowed for 13 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?
Use the calculator provided and round your answer to the nearest dollar
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=48000(1.08)^13
FV=48000(2.7196)
FV=130542
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