document.write( "Question 1078761: Suppose that
\n" ); document.write( "$2000
\n" ); document.write( " is loaned at a rate of
\n" ); document.write( "16.5%
\n" ); document.write( ", compounded monthly. Assuming that no payments are made, find the amount owed after
\n" ); document.write( "9
\n" ); document.write( "years.
\n" ); document.write( "Do not round any intermediate computations, and round your answer to the nearest cent.
\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #693145 by Boreal(15235) $\"\"$ $\"About$

You can put this solution on YOUR website!
2000*(1+(.165/12))^108, the 108 being the number of months in 9 years
\n" ); document.write( "=$8741.05 \n" ); document.write( "

\n" );