an amount of 17000 is borrowed for 14 years at 5.75% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back

الحلّ

الحلّ

Amount : 37185.55

خطوات الحلّ

Translate the problem into an equation:

A = 17000 (1 + \frac{0.0575}{1})^{1 \cdot 14}

17000 (1 + \frac{0.0575}{1})^{1 \cdot 14} = 37185.54800 \dots

Round to the nearest hundredth:

37185.55

Amount : 37185.55

أمثلة شائعة

The product of two consecutive odd integers is 63 . Find the integers.Note: Each set of brackets represents one solution.The difference between two numbers is 103. Seven times the smaller is equal to 5 more than the larger. What are the numbers?half of a number decreased by three one half times a number less than one fourth Find the diameter of a circle with an area of 6