Question
Hugh Curtin borrowed $31,200 on July 1, 2017. This amount plus accrued interest at 8% compounded annually is to be repaid on July 1, 2022.
Hugh Curtin borrowed $31,200 on July 1, 2017. This amount plus accrued interest at 8% compounded annually is to be repaid on July 1, 2022. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much will Hugh have to repay on July 1, 2022? (Round answer to 2 decimal places, e.g. 25.25.)
| Amount to be repaid on July 1, 2022 |
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
7th Edition
1-119-57105-6, 978-1119571056
