Welcome to Westonci.ca, your ultimate destination for finding answers to a wide range of questions from experts. Join our platform to connect with experts ready to provide precise answers to your questions in various areas. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

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 :

Answer:

$ 3,062.61

Step-by-step explanation:

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

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.