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21-02-2022
Mathematics

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You borrowed $95 for 1 year at 5.2% interest that is compounded semi annually. What will you pay back in full?

Respuesta :

21-02-2022

Answer:

$100.00

Step-by-step explanation:

Compound interest is calculated by multiplying the initial loan amount, or principal, by the one plus the annual interest rate raised to the number of compound periods minus one. This will leave you with the total sum of the loan including compound interest.

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