Brenda Draper borrowed $120,000 on June 1, 2013. This amount plus accrued interest at 8% compounded annually is to be repaid on June 1, 2026. Brenda has obtained the following values related to the time value of money to help her with her financing process and compounded interest decisions. $\begin{array}{lr}
\text { Present value of } 1 \text { for } 13 \text { periods at } 8 \% & 0.36770 \
\text { Future value of } 1 \text { for } 13 \text { periods at } 8 \% & 2.71962 \
\text { Present value of an annuity of } 1 \text { for } 13 \text { periods at } 8 \% & 7.90378 \
\text { Future value of an annuity of } 1 \text { for } 13 \text { periods at } 8 \% & 21.49530
\end{array}$ To the closest dollar, how much will Brenda have to repay on June 1, 2026?

Question

Quizplus · Accepted Answer

The Answer of Brenda Draper borrowed $120,000 on June 1, 2013. This amount plus accrued interest at 8% compounded annually is to be repaid on June 1, 2026. Brenda has obtained the following values related to the time value of money to help her with her financing process and compounded interest decisions. $\begin{array}{lr}
\text { Present value of } 1 \text { for } 13 \text { periods at } 8 \% & 0.36770 \
\text { Future value of } 1 \text { for } 13 \text { periods at } 8 \% & 2.71962 \
\text { Present value of an annuity of } 1 \text { for } 13 \text { periods at } 8 \% & 7.90378 \
\text { Future value of an annuity of } 1 \text { for } 13 \text { periods at } 8 \% & 21.49530
\end{array}$ To the closest dollar, how much will Brenda have to repay on June 1, 2026?

Brenda Draper Borrowed $120,000 on June 1, 2013 To the Closest Dollar, How Much Will Brenda Have to Plus