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An amount of 17,000 is borrowed for 14 years at 9% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

An amount of 17,000 is borrowed for 14 years at 9% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?
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3 votes
an amount of 17,000 is borrowed for 14 years at 9% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

asked
User Carson Welsh
by
8.2k points

1 Answer

2 votes

Explanation:

56809.35946 must be paid back

answered
User Kuceb
by
8.0k points
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