Question

Norman borrowed $13,000 from his bank. The loan will be compounded quarterly for 4.5 years at a 7% interest rate. The full amount (to the nearest whole cent) he will owe to the bank (principal + interest) is:

$17,764.90.
$17,149.06.
$16,997.45.
$18,056.34.
None of these choices are correct.

Answer 1

Answer:

Step-by-step explanation:

hey find the answer below

option a

$ 17,764 . 90

Answer 2

Answer:

→  None of these choices are correct.

Step-by-step explanation:

The full amount (to the nearest whole cent) he will owe to the bank (principal + interest) is: A

A = 13,000(1.07)∧4.5 = $ 17626.63

→  None of these choices are correct.