This topic contains a solution. Click here to go to the answer

Author Question: Hector borrows $2500 at a rate of 9% compounded quarterly. Find how much Hector ... (Read 132 times)

misspop

  • Hero Member
  • *****
  • Posts: 540
Solve the problem.

Hector borrows $2500 at a rate of 9% compounded quarterly. Find how much Hector owes at the end of 3 years.

Use: A = Pntwhere:
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by misspop on Feb 28, 2021

fraziera112

  • Sr. Member
  • ****
  • Posts: 356
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 55% of students answer this correctly




misspop

  • Member
  • Posts: 540
Reply 2 on: Feb 28, 2021
YES! Correct, THANKS for helping me on my review


strudel15

  • Member
  • Posts: 324
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

For a complete list of videos, visit our video library