Post by: misspop on Feb 28, 2021
Hector borrows $2500 at a rate of 9% compounded quarterly. Find how much Hector owes at the end of 3 years.
Use: A = P
ntwhere:A = final amount
P = $2500 (the amount borrowed)
r = 9% = 0.09 (the annual rate of interest)
n = 4 (the number of times interest is compounded each year)
t = 3 (the duration of the loan in years)
◦ $3591.64
◦ $2672.58
◦ $30,675.00
◦ $3265.12
Post by: fraziera112 on Feb 28, 2021