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Sagot :
Answer:
2897.31
Step-by-step explanation:
I'm going to assume two things
The interest rate is compoudning annually
There is only one payment (at the end of the 10 years)
To find the amount of interest paid on this loan we first need to calculate the future value (or accumulated value)
FV=PV(1+i)^n
Plug in our numbers
2500(1+.08)^10
Run this through a calcuatlor and get 5,397.31
This is the future value and the question is asking for the interest paid which is just the FV-PV
Which means we have
5,397.31-2500
our answer is 2897.31
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