MathyMcMathster MathyMcMathster

25-05-2021
Mathematics

contestada

I need some help…

Ingrid took out a $2500 loan from a bank that charges 6% interest compounded monthly for 5 years. What is the total amount Ingrid will pay for this loan after 5 years?

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popholmes16 popholmes16

25-05-2021

Use the formula for compounded interest and plug in variable to solve for the amount. The picture should help

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