Mathematics, 04.04.2020 12:51 andybiersack154
Mrs. Anderson takes out a loan to have her kitchen remodeled. The bank offered her a $20,500 loan
compounded annually at a rate of 11%. If Mrs. Anderson will be paying the loan back over a 48
month period, what is the cost of credit she will have to pay back to the bank?
$31,120.44
$9020.00
$10,620.44
$29.520.00
Answers: 2
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Mrs. Anderson takes out a loan to have her kitchen remodeled. The bank offered her a $20,500 loan
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