Question:

# Clay Harden borrowed 29 000 from a bank at an interest rate

Last updated: 1/22/2024

Clay Harden borrowed 29 000 from a bank at an interest rate of 11 compounded monthly The loan will be repaid in 36 equal monthly installments over three years Immediately after his 22th payment Clay desires to pay the remainder of the loan in a single payment Compute the total amount he must pay The total amount Clay must pay immediately after his 22th payment will be Round to the nearest dollar