Basic College Mathematics (9th Edition)

by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.

Published by Pearson

ISBN 10: 0321825535

ISBN 13: 978-0-32182-553-7

Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 457: 32

Answer

Yen must replay $\$37,638$ in total.

Work Step by Step

We look up the column "4 years" and the row "3.5% interest" in the table. This gives us the value "1.1475". We multiply the principal ($\$32800$) by this number: $32800*1.1475=\$37,638$ Therefore, Yen must replay $\$37,638$ in total.

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