briellecadencem briellecadencem

23-05-2017
Mathematics

contestada

lilly owes $52,000 in student loan for college. if the loan will be repaid in 5.5 years and the interest rate changed is 6.75%, then how much will she pay altogether

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dogmando55 dogmando55

23-05-2017

An = P(1 + r)^n
An = 52000(1 + 6.75/100)^5.5 = 52000(1.0675)^5.5 = $74,477.78

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