Answer: 2,306,973.7 rounded... 2,306,974
900,000(1+.04)^24
Do you mean 6 to the 5th power. or is there another 6, if so then it would be 6 to the 6th power.
it is impossible to combine like terms. In order to combine like terms you must have like x+x you cant have like 1+x
Answer:
Given that,
An amount of $23,000 is borrowed for 11 years at 6.75% interest, compounded annually.
To find the Amount paid back after 11 years.
Explanation:
we know that,
The formula to find the,
Amount after n years of interest rate r% compounded annually is,

where P is the initial amount.
Here, we have that,
P=$23,000
r=6.75
n=11
Substitute the values we get,

Solving this we get,




Round to the nearest dollar.

Answer is: Amount paid back is $47182 after 11 years