InnedToPassPLzzz InnedToPassPLzzz
  • 04-02-2022
  • Mathematics
contestada

Eli has a loan of $3500.
This loan charges 5% interest
compounded annually. What is the
amount of interest that Eli will be
charged on this loan at the end of
four years?
(Round to the nearest cent)

Eli has a loan of 3500 This loan charges 5 interest compounded annually What is the amount of interest that Eli will be charged on this loan at the end of four class=

Respuesta :

Jaidalynt Jaidalynt
  • 04-02-2022
Answer: 700

Explanation:
3,500 x 5 over 100 = 175
175 x 4 = 700
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