Debra borrowed $8000 at a rate of 18% compounded semiannually. Assuming she makes no payment, how much will she owe after 9 year
1 answer:
Answer:
She owe $37736.96 after 9 years .
Step-by-step explanation:
Debra borrowed $8000 at a rate of 18% compounded semiannually
We are supposed to find how much will she owe after 9 years
Principal = 8000
Rate of interest = 18% =0.18
No. of compounds per year = 2
Time = 9 years
Formula :
Substitute the values in the formula :
A= 37736.96
Hence She owe $37736.96 after 9 years .
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