O EXPONENTIAL AND LOGARITH MIC FUNCTIONS Finding a final amount in a word problem on exponential growth.. An amount of $44,000 is borrowed for 14 years at 7.25% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back? Use the calculator provided and round your answer to the nearest dollar. ? X

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.5: Exponential And Logarithmic Equations
Problem 27E
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O EXPONENTIAL AND LOGARITH MIC FUNCTIONS
Finding a final amount in a word problem on exponential growth..
An amount of $44,000 is borrowed for 14 years at 7.25% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be
paid back?
Use the calculator provided and round your answer to the nearest dollar.
?
X
Transcribed Image Text:O EXPONENTIAL AND LOGARITH MIC FUNCTIONS Finding a final amount in a word problem on exponential growth.. An amount of $44,000 is borrowed for 14 years at 7.25% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back? Use the calculator provided and round your answer to the nearest dollar. ? X
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