$2000 was borrowed for 4 years with an interest rate of 3% compounded annually. What is the total amount owed at the end of the 4 years.
2 answers:
Answer:
i dont know srry i am stuck also
Answer:
$251.02
Explanation:
I = P
0
r
t
A = P
0 + I = P0 + P
0
r
t = P
0
(
1
+
r
t
)
I is the interest
A is the end amount: principal plus interest
P
0 is the principal (starting amount)
r is the interest rate in decimal form
t is time
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Step-by-step explanation:
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Step-by-step explanation:
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