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31 January, 17:30

An amount of $26,000 is borrowed for 13 years at 7.5% interest, compounded annually. if the loan is paid in full at the end of that period, how much must be paid back?

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  1. 31 January, 17:44
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    31,000 multiply this by (1.065 over 7) = $48,173.58
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