An amount of $38,000 is borrowed for 15 years at 6.75% interest, compounded annually. If the loan is paid in full at the end of

Question

An amount of $38,000 is borrowed for 15 years at 6.75% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

Kunduz · Accepted Answer

Click to see the answer