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. To the closest dollar, how much will Brenda have to repay on June 1, 2026?

Question

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.  To the closest dollar, how much will Brenda have to repay on June 1, 2026?

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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.  To the closest dollar, how much will Brenda have to repay on June 1, 2026?

Brenda Draper Borrowed $120,000 on June 1, 2013