An amount of 41,000 is borrowed for 15 years at 8.5% interest, compounded annually.

$139390 must be paid back.

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1 + r/n)^nt

Where

A = amount to be played back at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount borrowed.

From the information given,

P = 41000

r = 8.5% = 8.5/100 = 0.085

n = 1 because it was compounded once in a year.

t = 15 years

Therefore,

A = 41000(1 + 0.085/1)^1 × 15

A = 41000(1 + 0.085)^15

A = 41000(1.085)^15

A = $139390

$93,275.00

Step-by-step explanation:

$41,000 + $41,000 (8.5%) (15)

= $41,000 + $52,275.00

= $93,275.00

the answer is 1

Step-by-step explanation: