Five years ago Sylvio borrowed $12,000 from Warren at 11% compounded annually. Two years ago he made

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Five years ago Sylvio borrowed $12,000 from Warren at 11% compounded annually. Two years ago he made a payment of $7,000 to reduce his debt. Now how much, including interest, does Sylvio still owe?

a) $14,339

b) $9,217

c) $11,596

d) $7,675

Related Book For answer-question

Introduction to Operations and Supply Chain Management

ISBN: 978-0132747325

3rd edition

Authors: Cecil B. Bozarth, Robert B. Handfield

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Posted Date: Apr 30, 2021 12:46 PM

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Five years ago Sylvio borrowed $12,000 from Warren at 11% compounded annually. Two years ago he made

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Considering the information given it is clear that the payment was done two years The growth was f... View the full answer

Introduction to Operations and Supply Chain Management

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