genesisc0319
Answered

Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Suppose that a loan of $2500 is given at an interest rate of 19% compounded each year.
Assume that no payments are made on the loan.
Follow the instructions below. Do not do any rounding.
(a) Find the amount owed at the end of 1 year.
(b) Find the amount owed at the end of 2 years.
x
?

Sagot :

isobelfraser

Answer:

a)2975

b)3450

Step-by-step explanation:

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.