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2) You borrowed $10,400 for 4 years at 12.7% and the interest is compounded semi- nnually. What is the total you will pay back?

2) You borrowed $10,400 for 4 years at 12.7% and the interest is compounded semi- nnually. What is the total you will pay back?
asked 109k views
3 votes
2) You borrowed $10,400 for 4 years at 12.7% and the interest is compounded semi- nnually. What is the total you will pay back?

asked
User Kurrodu
by
8.3k points

1 Answer

4 votes

Answer:

$17,018.97

Explanation:


A=P(1+(r)/(n))^(n*t) \\\\'\\A=10400(1+(.127)/(2))^(8)\\\\\\A= 17,018.97

answered
User Andrew Nessin
by
8.1k points
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