Answered

Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Experience the convenience of getting accurate answers to your questions from a dedicated community of professionals. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

Juan is taking out a loan for 2,500 with an annual compound interest rate of 7% for 3 years. Juan will not make any additional deposits or withdrawals. How much interest will he have to pay at the end of the loan period?

Sagot :

juniimarie

Answer:

$ 3,062.61

Step-by-step explanation:

Account Balance= 2,500(1+ .07/1)^3

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.