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Paha777 [63]
3 years ago
7

An amount of $19,000 is borrowed for 12 years at 6% interest, compounded annually. If the loan is paid in full at the end of tha

t period, how much must be paid back?
Use the calculator provided and round your answer to the nearest dollar.
Mathematics
2 answers:
Natasha_Volkova [10]3 years ago
6 0
The equation would be 19,000(1.06)^12

the 1.06 is the interest and the ^12 is the amount of years/time

the amount needed to pay back after 12 years is 38,231.73$ ( rounded up )
lina2011 [118]3 years ago
6 0
Never mind I was wrong
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