If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound interest) at the end of the l
oan if the interest compounds monthly for 3 years? (Round your answer to the nearest dollar.)
1 answer:
Answer:
6500
Step-by-step explanation:
Interest =principal *rate*time
5000*10/100*3 years
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Step-by-step explanation:
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