Using the calculator below, substitute the values to calculate the interest amount on a the loan using the compound interest formula. Principal: $4,000 time: 10 years rate: 7% number of compounding periods: 4 What is the amount of the compound interest? (interest only)

a. 2,800
b. 4,757
c. 4,006
d. 59,897

Question

06-11-2022
Mathematics

Answered

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Using the calculator below, substitute the values to calculate the interest amount on a the loan using the compound interest formula. Principal: $4,000 time: 10 years rate: 7% number of compounding periods: 4 What is the amount of the compound interest? (interest only)

a. 2,800
b. 4,757
c. 4,006
d. 59,897

Sagot :

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