Beginning 31671

At the beginning of the year, Mr. Novák borrowed CZK 30,000 for two years with an interest rate of 11.8%. He will repay the debt at once after two years. The bank pays interest once a year, always at the end of the year. How much does Mr. Novák have to repay the bank?

Correct answer:

x =  37497.72

Step-by-step explanation:

a=30000 q=100%+11.8%=1+10011.8=1.118  a1=a q=30000 1.118=33540 x=a1 q=33540 1.118=37497.72

Did you find an error or inaccuracy? Feel free to write us. Thank you!

Tips for related online calculators
Our percentage calculator will help you quickly calculate various typical tasks with percentages.
Do you want to convert time units like minutes to seconds?

You need to know the following knowledge to solve this word math problem:

Related math problems and questions: