3 years ago

Brainliest + Points (please explain)

Mathematics

1 answer:

kotegsom [21]3 years ago

5 0

Answer:

$2970.25

Step-by-step explanation:

Please write the formula all on one line:

M = P(1 + r)^n, where P is the principal, r is the annual interest rate as a decimal fraction and n is the number of years.

Here, that comes to:

M = $2,500(1 + 0.09)^2, or

= $2,500 (1.09)^2, or

M = $2,500(1.1881), or

M = $2970.25.

$2970.25 will be needed to pay back this $2,500 loan.

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