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



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