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Suppose that $2000 is loaned at a rate of 18%, compounded monthly. Assuming that no payments are made, find the amount owed after 10 years. PLEASE HELP!!!!

Suppose that $2000 is loaned at a rate of 18%, compounded monthly. Assuming that no payments are made, find the amount owed after 10 years. PLEASE HELP!!!!
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suppose that $2000 is loaned at a rate of 18%, compounded monthly. Assuming that no payments are made, find the amount owed after 10 years. PLEASE HELP!!!!

User Skue
by
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2 Answers

6 votes
SO 19% OF 2000=P P*10=ANSWER
User Liangli
by
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4 votes
5000. 2000*.18*10=3600 3600/12=300 300*10=3000
3000+2000=5000
User VTodorov
by
8.1k points
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