Find the amount of non owed at the end of 4 years if 7,100 is borrowed at 6.5% per year compounded quarterly and no payments are made on the loan. ( simplify your answer completely. Round your answer to the nearest cent.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Find the amount of non owed at the end of 4 years if 7,100 is borrowed at 6.5% per year compounded quarterly and no payments are made on the loan. ( simplify your answer completely. Round your answer to the nearest cent.)
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