Mathematics, 21.07.2020 02:01 aliopqwas
Brent Pokott borrowed $4000 from his brother Dave. He agreed to repay the money at the end of 3 years, giving Dave the same amount of interest that he would have received if the money had
been invested at 1.25% compounded quarterly. How much money did Brent repay his brother?
(Round to the nearest cont as needed)
Answers: 1
![A=4000(1+\dfrac{0.0125}{4})^{4\times3}\\\\=4000(1.003125)^{12}\\\\=4000\times1.03815129256\\\\\approx4152.61 \ \ [\text{To the nearest cent.}]](/tpl/images/0710/3521/8ea99.png)
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Brent Pokott borrowed $4000 from his brother Dave. He agreed to repay the money at the end of 3 year...
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