A borrower had a loan of $30,000.00 at 4% compounded annually, with wal payments. Suppose...
70.2K
Verified Solution
Link Copied!
Question
Accounting
A borrower had a loan of $30,000.00 at 4% compounded annually, with wal payments. Suppose the browar puid off the loan after 5 years at the amounted to pay off The amount needed to pay off this loon after 5 years is (Round to the nearest cant as needed)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!