Beth will borrow $10,000 which earns 4% compound interest and she will repay that amount in 20 years. How much interest was earn
ed on her loan?
Question 4 options:
$8,000
$21,911.23
$11,911.23
$18,000
1 answer:
Answer:

Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the amount that she will repay
P is the amount borrowed
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Find out the interest

substitute the values

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