Brent Pickett borrowed $5000 from his brother Dave. He agreed to repay the money at the end of 2 years, giving Dave the same amount of interest that he would have received if the money had been invested at 3.75% compounded quarterly. How much money did Brent repay his brother?
Brent Pickett borrowed $5000 from his brother Dave. He agreed to repay the money at the end of 2 years, giving Dave the same amount of interest that he would have received if the money had been invested at 3.75% compounded quarterly. How much money did Brent repay his brother?
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 3PT: Drew wants to save 2,500 to go to the nextWorld Cup. To the nearest dollar, how much willhe need to...
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Brent Pickett borrowed
$5000
from his brother Dave. He agreed to repay the money at the end of
2
years, giving Dave the same amount of interest that he would have received if the money had been invested at
3.75%
compounded
quarterly.
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