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21-12-2021
Business

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If you borrow $1500 with a compounding interest rate of 8% for 2 years, that compounds semi-annually. How much will you pay back in total at the end of 2 years

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21-12-2021

Answer:

1740

Explanation:

1500(1+[tex]\frac{8}{100}[/tex])^2

1500*([tex]\frac{27}{25}[/tex])^2

= 1749.6

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