hazefreedom1502 hazefreedom1502

04-03-2021
Mathematics

contestada

Find the amount Erica owes at the end of 3 years if $6400 is loaned to her at a rate of 7% compounded monthly.

Respuesta :

samuelonum1 samuelonum1

05-03-2021

Answer:

$7840

Step-by-step explanation:

Given data

P=6400

r=7%

t= 3 years

The compound interest expression is given as

A= P(1+r)^t

Substitute

A= 6400(1+0.07)^3

A= 6400(1.07)^3

A= 6400*1.225

A= $7840

Hence at the end of 3 years she owes $7840

Answer Link

Otras preguntas

A coin is tossed 100 times. WHich portion would you use to find how many times you'd expect the coin to land on heads?

38. Mary Catherine, an international student from Ireland, has a Form W-2 that shows amounts withheld for Social Security and Medicare taxes. Mary Catherine is

Draw a line connecting each circle to the appropriate radius, diameter, and circumcerences.

Solve each inequality below. Then match the solution to the graph.

Which of the following are the benefits of using Responsive Display Ads?

please help!! it’s about percents and finding the totals cost!!!help fast

Calculate the acceleration of a 7,000 kg, single-engine airplane just before takeoff when the thrust of its engine is 10,000 N.

PLS HELP ME !!!!!!!!

I need help with this

Civil obedience by Henry David Thoreau what was the author's intent? Why did he write this, and how does he use evidence to support his argument