Question

An amount of
$20,000
is borrowed for
13
years at
5.25%
interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?
Use the calculator provided and round your answer to the nearest dollar.

Answer 1

Calculate the AMOUNT that will have accumulated after 13 years.
We discussed the formula for that in a previous problem posted by you.

Answer 2

you can use formula A=P(1+r/n)^nt

Answer 3

38897?