nomin7
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pleaase someone help me !


How much would you have to repay on a credit card debt of 3500$ after 2-years if the interest rate is 19.5% compounded half-yearly .​

Respuesta :

lilianabbam2020eis

Answer:

$ 4,865

Step-by-step explanation:

First find the simple intere

Answer:

P = A (1 + i)^n      where P is the payment, A the original amount and i the  interest rate for the payment period.

Assuming .195 is the annual interest rate then

i = .195 / 2 = .0975  the rate that will be compounded every 6 mos.

P = 3500 * (1 + .0975)^4 = $5078

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