Juan is taking out a loan for 2,500 with an annual compound interest rate of 7% for 3 years. Juan will not make any additional d
eposits or withdrawals. How much interest will he have to pay at the end of the loan period?
1 answer:
Answer:
$ 3,062.61
Step-by-step explanation:
Account Balance= 2,500(1+ .07/1)^3
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