Answer to Question #149625 in Financial Math for Gugu

Question #149625

Ken Couch is a student at medical school. He borrowed $24,000 for 18 months at the rate of 9% com-
pounded monthly. How much in total. principal plus compound interest, must Ken repay at the end of
the 18 months?

Expert's answer

"S=24000\\cdot (1+\\frac{9}{12\\cdot100})^{18}=27455.05" $.

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