An original loan of $2,000 was made at 6% simple interest per year for 4yr. At the end of this time, no interest has been paid and the loan was extended for 6 yr more at a new effective compound interest rate of 8%/yr.

17.5 An original loan of $2,000 was made at 6% simple interest per year for 4 yr. At the end of this time, no interest had been paid and the loan was extended for 6 vr more at a new effective compound interest rate of 8%/yr. What is the total amount owed at the end of the 10thyr if no intermediate payments are made