selinarh32 selinarh32

31-10-2021
Mathematics

contestada

Boris borrowed $8000 at a rate of 11%, compounded quarterly. Assuming he makes no payments, how much will he owe after 6 years?

Respuesta :

nurse0506 nurse0506

31-10-2021

Answer:

A lot of money LOL

Step-by-step explanation:

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madethisfortwitch1 madethisfortwitch1

31-10-2021

Answer:

Step-by-step explanation:

assuming the 11% was a nominal rate

[tex]8000(1+\frac{.11}{4})^{4*6}=15341.0088385[/tex]

which i guess you could round to 15341

Answer Link

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