ScuddyG2296 ScuddyG2296

02-01-2023
Mathematics

Answered

Bernard borrows a sum of money from the bank which charges a compound interest of 4.2% per annum, compounded quarterly. given that bernard had to pay $96.60 in interest payments at the end of the first year, find the original sum of money borrowed, giving your answer correct to the nearest dollar.

(answer : $2264 )

Answer :

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