Question: If you borrow $ 1 0 0 0 . 0 0 on May 1 , 2 0 1 9 , at 1 0 % compounded

If you borrow $1000.00 on May 1,2019, at 10% compounded semi-annually, and interest on the loan amounts to $154.87, on what date is the loan due?
The due date is
(Round down to the nearest day.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!