An amount of $40,000 is borrowed for 11 years at 7 5% interest compounded annually. If the loan is paid in full at the end of that period, how much myst be paid back?

Amount to be paid back = $ 88,624.36

Step-by-step explanation:

Principal amount = $ 40,000

Rate of interest = 7.5%

Number of years = 11

Plugin the values as,

This can be accomplished using addition. If time starts at 5:47, and it takes 33 minutes to get from Point Pleasant to Long Branch, then it is now 6:20. 
After you arrive, you waited 14 minutes. It is now 6:34. Finally, it's an hour and 20 minute journey from Long Branch to New York. The final time is 7:54. 

Hope this helps! 
-Astro, Helper-In-Training