23 - What is the total amount of money to be paid back at the end of 8 years for a loan of 160 000 liras drawn from the bank for housing needs with a compound interest of 15% per year? A) 487 271 B) 486 834 C) 485 521 D) 488 700 E) 489 444

23 - What is the total amount of money to be paid back at the end of 8 years for a loan of 160 000 liras drawn from the bank for housing needs with a compound interest of 15% per year? A) 487 271 B) 486 834 C) 485 521 D) 488 700 E) 489 444

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

23 - What is the total amount of money to be paid back at the end of 8 years for a loan of 160 000 liras drawn from the bank for housing needs with a compound interest of 15% per year?
A) 487 271

B) 486 834

C) 485 521

D) 488 700

E) 489 444

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