Mathematics

10 February, 14:24

Doug paid a maturity value of $5015.52 on a 2-year note with annual interest of 8 % (or 0.08 ). Use the formula Upper M equals Upper P left parenthesis 1 plus i right parenthesis Superscript n , where n is the number of years in this problem, to find the amount borrowed.

Doug borrowed $

+1

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