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02-02-2018
Mathematics

contestada

you borrowed $59,000 for 2 years at 11% which was compounded semi annually. what total will you pay back?

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BEDoesMath BEDoesMath

24-03-2019

Answer:

$72,693.90

Step-by-step explanation:

1) Use the formula:

5900(1+.11/1)²

2) We next get this:

59000(1.11)²

3) Which then is this equation:

59000 · 1.2321

4) We finally get to the answer of $72,693.90

*Remember, this answer is rounded decimals

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