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Sagot :
Answer: [tex]55,811.91[/tex]
Step-by-step explanation:
Given
Principal amount is 25,000
Time Period is [tex]t=15\ yr[/tex]
Rate of interest [tex]r=5.5\%[/tex]
Amount in compound interest is given by
[tex]\Rightarrow A=P\left(1+r\%\right)^t[/tex]
Insert the values
[tex]\Rightarrow A=25,000(1+\dfrac{5.5}{100})^{15}\\\\\Rightarrow A=25,000(1.055)^{15}\\\Rightarrow A=55,811.91[/tex]
Therefore, [tex]55,811.91[/tex] must be paid back
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