Mrs. Genaro owns a small business. She borrows $18 500 dollars from the bank to finance some new equipment. She repays the loan in full after two years. If the bank charged her compound interest at the rate of 21% per annum, how much did she owe them after two years?

Question

04-11-2021
Mathematics

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Mrs. Genaro owns a small business. She borrows $18 500 dollars from the bank to finance some new equipment. She repays the loan in full after two years. If the bank charged her compound interest at the rate of 21% per annum, how much did she owe them after two years?

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