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3 years ago

6

Ali borrowed S 8000 at a rate of 7.5%, compounded semiannually. Assuming he makes no payments, how much will he owe after 10 yea

rs?
Do not round any intermediate computations, and round your answer to the nearest cent.

1 answer:

Andrew [12]3 years ago

4 0

Answer:

16,705

Step-by-step explanation:

7.5/2=3.75

(1+3.75%)^(10 x 2)=1.0375^20

=2.0881519961340

2.0881519961340 x 8000=16,705

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