PLS HELP RN
$4000 student loan. 10% compound interest annually. Total loan amount by 4 years?
1 answer:
Answer:
$2,400
Step-by-step explanation:
We get 10% of 4,000 by dividing 4,000 by 10.
4,000 ÷ 10 = 400
To get the amount that 4,000 is subtracted by we multiply 400 by 4.
400 × 4 = 1,600
To get the answer we subtract 4,000 by 1,600.
4,000 - 1,600 = 2,400
Hope I helped!
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Therefore, the answer is letter B
Interest = $572.60 - $560.00 = $12.60
$560 x 6i/12 = $12.60
i = ($12.60 x 12) / ($560 x 6) = 0.045%
