Question

You borrowed $59000 for two years at 11% which was compounded annually . What total will u pay back ?

Answer 1

Answer:

11000052000725882986

Answer 2

Principal = $59000, Time = 2 years, Rate = 11% per annum

Amount

$= 59000(1 + { \frac{11}{100}) }^{2}$

$= 59000 \times \frac{111}{100} \times \frac{111}{100}$

$= 72693.90$

The answer will be $72693.90.