Jim received a $2000 loan from his bank. The loan accrues 3% interest every 3 months. How much will Jim owe the bank after 4 yea
rs? Round to the nearest cent
1 answer:
Answer:
$2253.98
Step-by-step explanation:
Jim received a $2000 loan from his bank. The loan accrues 3% interest every 3 months.

P=2000
r= 3%=0.03 and t= 4 years
interest every 3 months so n= 4


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