Im having trouble with a couple questions Please show work s
I\'m having trouble with a couple questions. Please show work so I can understand. Thanks!
If you took a loan of $10,000 from a bank that is charging 8% per year compounded monthly how much money will you have to pay at the end of one year if you made no payments in between? O$10,000 O$10,245 O $10,562 O s $10,830Solution
Amount to be paid in one year = 10,000*(1 + 8%/12)^12 = 10,830
b. amount at the end of 15 years = 2000 * e0.12*15 = 12,099
