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04-05-2020
Mathematics

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The owner of a clothing store borrows $5,000 for 1 year at 14.5% interest. If he pays the loan back at the end of the year, how much does he pay back

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homelessdoglookingfo homelessdoglookingfo

04-05-2020

Answer:

Depends on the sort of interest, He could have paid annual interest, compound interest, monthly. If it is annual interest the answer is 5,725$

Step-by-step explanation:

Multiply the initial value by the growth (1.145)

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