Bramble Curtin borrowed $36,000 on July 1, 2020. 

This amount plus accrued interest at 9% compounded annually is to be repaid on July 1, 2025.

How much will Bramble have to repay on July 1, 2025?

 

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TABLE 1 Future Value of 1 (n) Periods 4% 5% 6% 10% 12% 0 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1 1.04000 1.05000 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12000 1.15000 2 1.08160 1.32250 3 1.12486 1.15763 1.10250 1.12360 1.14490 1.16640 1.18810 1.21000 1.23210 1.25440 1.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.40493 1.52088 1.16986 1.21551 1.26248 1.31080 1.36049 1.41158 1.46410 1.51807 1.57352 1.21665 1.27628 1.33823 1.40255 1.46933 1.53862 1.61051 1.68506 1.76234 1.26532 1.34010 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.97382 1.74901 2.01136 1.31593 1.40710 1.50363 2.07616 2.21068 1.60578 1.71382 1.82804 1.94872 1.71819 1.85093 1.99256 2.14359 2.30454 2.47596 1.36857 1.47746 3.05902 1.42331 1.55133 1.68948 1.83846 1.99900 2.17189 2.35795 2.55803 2.77308 3.51788 2.15892 2.36736 2.59374 2.83942 3.10585 4.04556 1.48024 1.62889 1.79085 1.96715 1.53945 1.71034 1.89830 2.10485 2.33164 5.35025 1.66507 1.88565 2.13293 6.15279 2.58043 2.85312 3.15176 3.47855 4.65239 1.60103 1.79586 2.01220 2.25219 2.51817 2.81267 3.13843 3.49845 3.89598 2.40985 2.71962 3.06581 3.45227 3.88328 4.36349 1.97993 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 7.07571 3.64248 4.17725 4.78459 5.47357 4.59497 5.31089 6.13039 1.73168 1.80094 2.07893 1.87298 2.18287 2.54035 2.95216 3.97031 1.94790 2.29202 2.69277 2.39656 2.75903 3.17217 3.42594 3.15882 3.70002 4.32763 5.05447 5.89509 6.86604 3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 6.11591 7.26334 8.61276 2.02582 2.40662 2.85434 2.10685 2.52695 3.02560 3.61653 4.31570 5.14166 3.20714 3.86968 4.66096 5.60441 6.72750 2.19112 2.65330 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 1.59385 7% 8% 9% 11% 15% 2.31306 2.66002 8.13706 9.35762 10.76126 12.37545 14.23177 8.06231 9.64629 16.36654 TABLE 1 Future Value of 1 (n) Periods 4% 5% 6% 10% 12% 0 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1 1.04000 1.05000 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12000 1.15000 2 1.08160 1.32250 3 1.12486 1.15763 1.10250 1.12360 1.14490 1.16640 1.18810 1.21000 1.23210 1.25440 1.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.40493 1.52088 1.16986 1.21551 1.26248 1.31080 1.36049 1.41158 1.46410 1.51807 1.57352 1.21665 1.27628 1.33823 1.40255 1.46933 1.53862 1.61051 1.68506 1.76234 1.26532 1.34010 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.97382 1.74901 2.01136 1.31593 1.40710 1.50363 2.07616 2.21068 1.60578 1.71382 1.82804 1.94872 1.71819 1.85093 1.99256 2.14359 2.30454 2.47596 1.36857 1.47746 3.05902 1.42331 1.55133 1.68948 1.83846 1.99900 2.17189 2.35795 2.55803 2.77308 3.51788 2.15892 2.36736 2.59374 2.83942 3.10585 4.04556 1.48024 1.62889 1.79085 1.96715 1.53945 1.71034 1.89830 2.10485 2.33164 5.35025 1.66507 1.88565 2.13293 6.15279 2.58043 2.85312 3.15176 3.47855 4.65239 1.60103 1.79586 2.01220 2.25219 2.51817 2.81267 3.13843 3.49845 3.89598 2.40985 2.71962 3.06581 3.45227 3.88328 4.36349 1.97993 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 7.07571 3.64248 4.17725 4.78459 5.47357 4.59497 5.31089 6.13039 1.73168 1.80094 2.07893 1.87298 2.18287 2.54035 2.95216 3.97031 1.94790 2.29202 2.69277 2.39656 2.75903 3.17217 3.42594 3.15882 3.70002 4.32763 5.05447 5.89509 6.86604 3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 6.11591 7.26334 8.61276 2.02582 2.40662 2.85434 2.10685 2.52695 3.02560 3.61653 4.31570 5.14166 3.20714 3.86968 4.66096 5.60441 6.72750 2.19112 2.65330 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 1.59385 7% 8% 9% 11% 15% 2.31306 2.66002 8.13706 9.35762 10.76126 12.37545 14.23177 8.06231 9.64629 16.36654

Answer rating: 100% (QA)

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