Question

If you borrow $1500 with a compounding interest rate of 8% for 2 years, that compounds semi-annually. How much will you pay back in total at the end of 2 years

Answer 1

1740

Step-by-step explanation:

1500(1+
`(8)/(100)`)^2

1500*(
`(27)/(25)`)^2

= 1749.6