Mathematics, 23.06.2020 19:01 gracie6313

Riley borrows $8000 at 7.1% compounded semi-annually. He thought he would owe $11 406 at the end of 6 years but his friend Clayton thought he would owe $12 073,32.
Most likely, what error(s) did Paul and Clay make?
What is the correct amount he will have to pay back in 6 years?

Answers: 3

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Riley borrows $8000 at 7.1% compounded semi-annually. He thought he would owe $11 406 at the end of...

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More questions: Mathematics Another questions

Riley borrows $8000 at 7.1% compounded semi-annually. He thought he would owe $11 406 at the end of 6 years but his friend Clayton thought he would owe $12 073,32. Most likely, what error(s) did Paul and Clay make? What is the correct amount he will have to pay back in 6 years?

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Another question on Mathematics

Riley borrows $8000 at 7.1% compounded semi-annually. He thought he would owe $11 406 at the end of 6 years but his friend Clayton thought he would owe $12 073,32.
Most likely, what error(s) did Paul and Clay make?
What is the correct amount he will have to pay back in 6 years?