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 Four years ago a person borrowed $15,000 at an interest rate of 10%

Question # 00711705
Subject: General Questions
Topic: General General Questions
Due on: 09/14/2018
Posted On: 09/14/2018 01:17 PM

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1)     Four years ago a person borrowed $15,000 at an interest rate of 10% compounded annually and agreed to pay it back in equal payments over a 10 year period. This same person now wants to pay off the remaining amount of the loan. How much should this person pay? Assume that she has just made the 3rd payment.

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 Four years ago a person borrowed $15,000 at an interest rate of 10%

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Posted On: 09/14/2018 01:17 PM
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