yogirlsam7445 yogirlsam7445

16-03-2020
Business

contestada

A firm a borrowed $5,000,000 for 5 years at 10% per year compound interest. The firm will make no payments until the loan is due, when it will pay off the interest and principle in one lump sum. What is the total payment?

Respuesta :

busyfingers1193 busyfingers1193

19-03-2020

Answer: $8,052,550

Explanation:

$5,000,000(1+0.1)^5= $8,052,550

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