Knowledge Check Chang borrowed $8000 at a rate of 9%, compounded quarterly. Assuming he makes no payments, how much will he owe after 5 years? Do not round any intermediate computations, and round your answer to the nearest cent.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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Question 18
Chang borrowed $8000 at a rate of 9%, compounded quarterly. Assuming he makes no payments, how much will he owe after 5 years?
Do not round any intermediate computations, and round your answer to the nearest cent.
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ved of
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Transcribed Image Text:https://www-awu.aleks.CUll E Knowledge Check Question 18 Chang borrowed $8000 at a rate of 9%, compounded quarterly. Assuming he makes no payments, how much will he owe after 5 years? Do not round any intermediate computations, and round your answer to the nearest cent. Submit ved of I Don't Know 0200 Type here to search
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A https://www-awu.aleks.com/alekscgi/x/lsl.exe/1o_u-IgNslkr7j8P3jH-IJiLwpxbwPrkicRI6pS60AVDİQYFU2vvpW5C7l8wHR-mMk5z.
Knowledge Check
Question 18
Chang borrowed $8000 at a rate of 9%, compounded quarterly. Assuming he makes no payments, how much will he owe after 5 years?
Do not round any intermediate computations, and round your answer to the nearest cent.
A
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IDon't Know
Type here to search
Transcribed Image Text:nAbusaad - Knowle X A https://www-awu.aleks.com/alekscgi/x/lsl.exe/1o_u-IgNslkr7j8P3jH-IJiLwpxbwPrkicRI6pS60AVDİQYFU2vvpW5C7l8wHR-mMk5z. Knowledge Check Question 18 Chang borrowed $8000 at a rate of 9%, compounded quarterly. Assuming he makes no payments, how much will he owe after 5 years? Do not round any intermediate computations, and round your answer to the nearest cent. A Subit IDon't Know Type here to search
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ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax