Friday

February 27, 2015

February 27, 2015

Posted by **Maame** on Thursday, May 24, 2012 at 10:59pm.

5 years, she repays $12 033.52 for the principal and the interest. How much

money did Chandra borrow?

- math -
**HenrComp./yr * 5yrsy**, Friday, May 25, 2012 at 9:45pmP = Po(1+r)^n.

r = 7.2% / 100% = 0.072 = Annual % rate expressed as a decimal.

n = iComp/yr * 5yrs = 5 Compounding

periods.

P = Po(1.072)^5 = 12,033.52

1.41571Po = 12,033.52

Po = $8500. = Amt. borrowed.

**Answer this Question**

**Related Questions**

math-finance - Colin borrowed some money at 7.16%?a compounded quarterly. three ...

math - Sally invests some money at 65%/a compounded annually. After 5 years . ...

math - Sally invests some money at 65/a compounded annually. After 5 years . she...

MATHS - A woman borrows 100000 euro to improve her house. she borrows the money ...

math - Sally invests some money at 6%/a compounded annually. After 5 years, she ...

Math - Serena wants to borrow $15 000 and pay it back in 10 years. Interest ...

Math - Serena wanst to borrow $15 000 an pay it back in 10 years. Interest rates...

Math - Please check my work, thank you If $7,800 is deposited into an account ...

Business Math and Statistics - You deposit $1,000 for 4 years at an interest ...

MAAAATTTTHHHHHH - Franco invests some money at 6.9%/a compounded annually and ...