Question
Hugh Curtin borrowed $32,800 on July 1, 2017. This amount plus accrued interest at 5% compounded annually is to be repaid on July 1, 2022.
Hugh Curtin borrowed $32,800 on July 1, 2017. This amount plus accrued interest at 5% compounded annually is to be repaid on July 1, 2022.
Click here to view the factor table.
(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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Management And Cost Accounting
Authors: Alnoor Bhimani, Srikant M. Datar, Charles T. Horngren, Madhav V. Rajan
7th Edition
1292232668, 978-1292232669
