nicole borrowed $550 for five years at 3 percent interest, compounded annually. what is the total amount she will have paid when she pays off the loan?

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asked Feb 3, 2020 138k views

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nicole borrowed $550 for five years at 3 percent interest, compounded annually. what is the total amount she will have paid when she pays off the loan?

Mathematics
middle-school

Phil P asked

by Phil P

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She will have to pay $82.5
550x3%x5=82.5

Jason Beck answered Feb 9, 2020

by Jason Beck

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