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BTGmoderatorLU
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Johnny borrows $30,000 from Tony at 2% daily interest compounded daily. How much does Johnny owe Tony after 8 weeks?
a) 30000*0.02^56
b) 30000*1.12
c) 30000*2.12
d) 30000*1.02^56
e) (30000*1.02)^56
The OA is D.
Please, can any expert assist me with above problem? I don't have it clear. Thanks.
a) 30000*0.02^56
b) 30000*1.12
c) 30000*2.12
d) 30000*1.02^56
e) (30000*1.02)^56
The OA is D.
Please, can any expert assist me with above problem? I don't have it clear. Thanks.
