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7. Opal Lindsay has just taken out a loan at her bank. The bank is charging her 12 percent compounded monthly. How much is Ms. Lindsay actually paying for her loan?

Respuesta :

rameenzaheer1

Answer:

12.68250%.

Formula:

Basic formula for compound interest:

At = A0(1+r)n

where:

A0 : principal amount, or initial investment

At : amount after time t

r : interest rate

n : number of compounding periods, usually expressed in years

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