1. Suppose you borrow $2500 for 3 years at 6.5% compounded quartlerly.
a) What is the amount you must repay?
b) how much intrest will you pay?
need help solving this, thanks.
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so i don't no if im doing this write, guide me if im not...
The equation you use to solve this is A=P(1+i)^n
i= .065/4= 0.1625
n= (3) (4)=12
then plug the numbers into the equation,
Im i doing this right?
Originally Posted by Cdawson A=2000(1+0.1625)^12
Im i doing this right? looks good but would look better with 2500?
Originally Posted by Krahl looks good but would look better with 2500? haha it would wouldn't it
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