Susan borrowed $25,000 from a bank for one year at the rate of 10.5% per annum. Compute the amount she must pay to the bank to c
lear her loan amount; interest is compounded half-yearly.
1 answer:
Answer:
$29,761.90
Step-by-step explanation:
25,000 ÷ 10.5 = 2,380.95
2,380.95 X 2 = 4,761.90
4,761.90 + 25,000 = $29,761.90
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