Ruiz Collins
01/19/2024 · Primary School
An amount of \( \$ 17,000 \) is borrowed for 15 years at \( 7.25 \% \) interest, compounded annually. Assuming that no payments are made, find the amount owed after 15 years. Use the calculator provided and round your answer to the nearest dollar.
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The amount owed after 15 years is approximately \$48,416.
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