Respuesta :

Answer:

$24613.15

Step-by-step explanation:

Given,

  • principal amount, P = $19,500
  • rate of interest,r = 3.9%
  • Time, t = 6 years

Since, payment is made quarterly,

  • n = 4

We have to calculate the total amount to be paid to amortize the debt.

So, the amount to be paid

A\ =\ P(1\ +\dfrac{r}{n})^{nt}

   =\ 19500(1\ +\dfrac{0.039}{4})^{4\times 6}

   =\ 19500(1+0.00975)^{24}

   = 24613.155

So, the total amount to be paid is $24613.15.

 

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